Regardless of the exact close, all US equity indexes are set for significant net weekly gains, with the sp'500 having clawed from 1810 to 1930, having seen a minor retrace to 1902. VIX remains very subdued, -3% in the 20.90s. Metals are weak, Gold -$4, with Silver -0.6%.
More than anything this week, it has been rather amusing to see how the mainstream cheerleaders on clown finance TV are trying so hard to convince themselves that 'everything is fine now'. They keep touting how its impressive how the '1812' low held... a few months ago.. they were touting how it was so great 1867 was the secure low.
The reality is that we're seeing lower highs.. and lower lows..........
We are due bankruptcies in the oil/gas/mining sector.
The ricochet effects to the financials... that is difficult to say... but Deutsche bank is an obvious systemic problem for mainland Europe.
A long bearish spring is ahead... but for the moment... I'm more than content to watch the rally continue into early March.
... back at the close