sp'60min
Summary
Today was a tough one. If you reflect back to how we opened Friday, and where we are now, from a mood of 'omg, the jobs number is dire!', to one where....I guess I should merely say.... 'normal service has resumed'.
After all, since when did the US economy need net job growth, when it has the Bernanke who will gladly print ALL the dollars necessary to fund the Federal Government?
Strange times, and one day...they will become legendary, and perhaps even mythical. The financial historians of the late 21st century will find it hard to imagine how we kept repeating the same bubble nonsense..over and over.
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As for the indexes, the hourly charts look insanely over-extended - moving from RSI 30 to 70 in just 4 days, but hey, the daily and the weekly charts are back to a bullish outlook.
more later..on the VIX - which remains one notable issue in that its not breaking new lows.