11am update - fearless market

Whilst equities are holding slight declines, what is more interesting is the VIX, which is actually lower by 4%, and looks set to close in the 12s! Despite two huge corporate monsters missing expectations by 10%, this market simply doesn't particularly care.


VIX'daily3

Summary

The $3bn of 'benny bux' should be finding its way into equities across the rest of today.

Frankly, a green equity close looks rather likely, with VIX in the 12s.
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Maybe this ramp from 1560 will complete by the end of next week.

What is clear though, today the bears remain laughably powerless.
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Ohh, and as for the metals...despite Gold being up $10...its still within a pretty clear bear flag.

Weekly/monthly charts remain dire for the precious metals.


UPDATE 11.14am...and the indexes are starting to go green, lead by R2K.

At this rate, VIX in the mid 12s by the close, which opens up the 11s, if sp'1710/20 next week.