Wednesday, 20 April 2016

3pm update - 300pts across 48 days

With the algo-bot melt continuing, we've now seen the sp'500 net higher by 300pts (16.6%) from the Feb'11th low.. with VIX having cooled from the 30s to the 12s. It is of course entirely understandable as earnings are great, and the world economy is stronger than ever before.. especially in South America.




*yes, there is a touch of upside in the VIX from earlier lows.. but still.... holding under declining resistance/trend.

Suffice to add, regardless of the close, with a new cycle high for most indexes, its another day for the bulls.

notable strength: BAC +2.6%...

A clear break above what is pretty important resistance, next level is the 200dma in the $15.50s.

back at the close