1pm update - nothing good to end the week

Those who bravely went long into the Thursday close can sure have a good laugh at whats happened today. The giant gap up is holding, and we're only 1 pt or so from the days peak.

We do have a reversal candle on the VIX, but its effectively irrelevant right now.


sp'daily5

VIX'daily

Summary

There is nothing good in sight now for the bears. The jobs data - underneath the headlines, is lousy, yet that doesn't matter of course to Mr Market.

A question has to be faced by the bears again, why would anything change now? Even the ECB disappointment is now forgotten, and the weekly and monthly indexes are again outright bullish - at least for the Sp'500

More on that latter issue later.