This remains an almost entirely fearless market. Once again we have a VIX that was very weak into the weekend. This was despite persistent equity weakness, with the Dow -185pts.
If sp' can battle into the 1730s next week (which is my target), then VIX will be in the low 12s..if not the 11s.
Anyone with targets of sp'1800/1900s late 2013/early 2014, should ask themselves the question, where will VIX be then? Are we going to see single digit VIX before the current grand cycle is complete ? Considering the QE, and the continued mainstream delusion, I have to think there is a very high chance.
more later..on the indexes