2pm update - frustrating Friday

The market remains comfortably holding its moderate morning gains. Laughably, we're a mere 1.2% from the Tuesday high. Pull backs remain brief...and completely unreliable. Its been another lousy week, and it doesn't look like there is any chance of closing the day flat.


sp'60min

vix'daily3

Summary

Another annoying day, and it really taints the somewhat impulsive 2 day decline.

Bears should fear the Bernanke next week. Any talk of 'ohh yeah, recession, we'll just increase the print rate'..and market will soar.

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Metals... remain weak, but the steep downtrend is starting to lessen, and a bounce looks likely by end of next week.

SLV, daily

As ever, the only issue is whether the bounce merely forms yet another lower high.

back at 3pm