sp'60min
vix'60min
Summary
The real problem for the bears is that the daily cycles have now reversed. We have the indexes ticking higher, and the VIX has similarly taken out yesterdays low.
Bad day, tomorrow can be no worse, right?
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Were it not for posting here, I'd have just switched my screen off some hours ago.
*ohh, and I can only imagine the glee of the cheer leading maniacs on clown finance TV. I'm certainly not watching them, but I can just imagine the marginal hysteria they are starting to experience this closing hour.
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Weekly index charts ALL back to bullish. Baring a close in the low 1580s tomorrow, the upside target would be 1625/30.
Anyone think we can break into the 1570s tomorrow? I have given up on hope of that.
Clearly, we should all bought FB. After all, its PE is only 65, clearly under-valued, yes?
3.25pm You can see the Trans is well below the recent highs, despite +1% today.
Hard to imagine right now, the target of 5500/5400 being hit, with the current type of market.
...VIX just quietly melting away into the close. Unless the market gets smacked lower tomorrow, we're looking at VIX 12s again, if not 11s, with sp'1620s.
This is where at least some of the hot 'pomo' money is going...
FB, daily
Many still think this is ultimately headed the way of myspace..and geocities. but as those shorting at the close of yesterday are again realising, that could be 'some years' away.