2pm update - Could the IMF stop this fall ?

Its not looking like a great summer ahead is it? We are seeing further signs that the overall bigger picture is indeed correct, with eventual targets of sp'1100, at which point the Bernanke is sure to put in a guest appearance. There will of course be some strong up cycles along the way, but those still looking for sp'1400s+ in the coming months, that is probably a task even the IMF will find too difficult too achieve*

*Impossible Mission Force......not the International Monetary Fund. The latter seem to be in hibernation mode, does anyone know where those guys even reside these days? Are they aware the EU nation states of Greece and Spain are imploding?


Dow'60min

Vix'60min

Summary

The VIX appears to keep getting support on the hourly 10MA, the indexes just can't even get back to break even. No buyers...with few sellers. Market appears content to just slowly melt away, and I'm guessing waiting for some news to use as an excuse to begin a recovery wave.

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