11am update - bears can't outgun the QE

Another opex, and so far, bulls remain firmly in control. The large 5bn of QE will now be distributed (however it happens)..and Mr Market will surely be absorbing some of that money across today. Precious metals remain weak, with Gold -$23. Oil is holding gains of 0.8%


sp'60min

R2K, daily

Summary

*VIX is very weak, -5%, keep in mind VIX opex is next Wednesday, so 'they' will probably like to keep a low vix until then.
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Rus'2000 index.. getting real close to the big 1000.

I've no doubt it'll get there, if not today, then sometime soon.
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I am content to remain on the sidelines after a moderate gain in SLV.

Metals remain very weak across the mid/long term, but the immediate threat is of a late day ramp. The 15/60min cycles are weak in price, but there is a real possibility of late day recovery.