Wednesday 2 January 2013

2pm update - market holding together

We're still holding the sp'1450s, and with the VIX back in the 15s, everything is bullish..right? Congratulations America on your fiscal conservatism, and long term budgetary planning. At this rate of progress, you'll be at the standard of the EU in no time!


sp'daily5


Summary

So..holding in the 1450s, and even if we break into the mid 1440s..its nothing for the bulls to get concerned about.

On any basis, it'd seem we'll close the week at least in the 1440s, if not even the 1460s.
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To my own pleasant surprise, even yours truly - perhaps one of the most impatient traders on the NYSE, is feeling no impulse to re-short.

Perhaps..Friday..but..far better...next week, and even then, that's only if things appear exhausted.

VIX weekly...



an incredible candle, and we've still two full days left of this week!