Closing Brief

Yet another late day ramp, fuelled by POMO, and aided by the algo-bots, helped to conclude another embarrassing failure for the bears. The VIX lost almost all of the earlier gains, and confirms the complete lack of fear amongst the mainstream. After all, everything is fine..right?


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Summary

As I noted last night, all those hoping for major index declines - after AAPL was down $50 in AH trading yesterday, were likely going to be disappointed.

*The metals closed especially weak, with the $ a touch higher.
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Today's close is unquestionably another failure for the bears. The upside momentum - fuelled by POMO, is just so damn strong, its going to be extremely difficult to get a single 1% index decline any time soon, never mind a multi-day retracement down to 1450/40s.

Despite saying that, I am comfortably holding a VIX call block from the low 12s (from last Friday). VIX spiking into the 16s still seems likely at some point in the near term.
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The usual bits and pieces across the evening