12pm update - back to the border of despair

Mr Market is clearly delighted with the ECBs reduction in rates. After all, we no long need depositors in order to lend for capital formation, right? Once again, we're back to a very borderline situation. How we close today will be important..but then, isn't it always?


sp'60min

vix'60min

Summary

Suffice to say, this is indeed getting annoying again. All of yesterdays declines are wiped out - aside from the Trans/R2K.

Due to the size of the ramp, it can't be a bear flag.

Even Oil is now starting to ramp higher.
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If Friday sees a break into the 1610/20s..then its time to wave the white flag of surrender again.

*without question, any 'serious/big money' will have short-stops @ 1597/1600, and won't be holding any higher than that.
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Here is something for Thursday lunch, for those in an especially bad mood...




back later