12pm update - another bear tease

The market is teasing the bears yet again. Almost a 1% decline for the main indexes, with the VIX +11% - but still in the lowly 14s. 2012 was one giant tease to the doomer bears..2013 won't likely be any better.


sp'daily5

vix'daily3

Summary

Its still kinda dull, isn't it? Not even 1% yet, after a climb from 1398 to 1514 across 5 weeks.

A tiresome..tease, that's what this is.
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Best bear case...VIX 17/18..with sp'1460s....that's the best the bears can hope for..before the next major ramp..into the mid sp'1550s...and beyond.
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I await a Valentines day bear massacre...go see the POMO schedule for February.

Any doubts? I refer you to the daily index charts from Aug 2010 to may 2011. Go stare at those for a few hours.

time for lunch
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Update - VIX sonar report




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