After opening a touch lower, the indexes turned higher, and didn't look back. The clown networks are still overly obsessing over the Dow, but the other indexes are still holding below their Monday highs. VIX was smacked lower by around 12%
*closing 5 minutes were a touch weaker, but still, its negligible.
I have to note, I am surprised at the strength of today. I thought 1510 was certainly viable..but 1519/20...thats..kinda bizarre.
Yet, should we be surprised?
Today was a 5bn super POMO fuelled trading day, was that partly why this latest up cycle was so strong?
As will always be the case...we'll simply never know.
I remain content to be on the sidelines.
If we break 1522, its arguably pointless to consider a re-short, and I would assume (blue) wave '5 - see daily charts, is now underway. Blue'5 might get stuck in the 1550s, but that might take 2-3 weeks to pan out.
So, those bears hoping for one final down wave...might well have to sit it out until mid March.
more later...on the VIX