sp'60min
vix'60min
Summary
The market is certainly getting the move higher I was looking for, and has even exceeded it by 10pts to 1455. As noted a few days ago, a brief spike as high as 1460 is viable, but that should absolutely not hold.
So..all those bears who bailed at 1400 - as I did, are now getting an opportunity to re-short in the 1450s, with the ever problematic threat of QE...done.
Anyone who thinks 40bn a month of MBS purchases is going to solve unemployment and 'save' the housing market is a complete maniac.
--
Something that has to be bothering the Bernanke...bond yields are rising. So much for putting a lid on that.
back at 3pm