10am update - opening gains

The market opens moderately higher, and we're already making a run for the sp'1560s again. Bears have real problems across the next few days whilst the market awaits reassurance from the Fed that QE will not end any time soon.


sp'daily5

vix'daily3

Summary

VIX opens 2-3% lower, but its only a minor drop after yesterdays 18% jump.

Underlying MACD cycle on the VIX is warning of a possible snap higher into the mid teens tomorrow. I suppose thats viable after the Bernanke has spoken.
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Similarly, MACD cycle on the indexes is likely going negative tomorrow.

Certainly, the daily cycles are warning of 'trouble' for Wednesday.
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*Metals open a touch lower, but the moves are very minor noise so far.

I'm content to watch.