12pm update - minor declines

The main indexes are holding minor declines, with the sp -4pts @ 1681. No doubt many will be calling 1698 an intermediate top, but then, every up wave have been under-estimated since 2009. There remains little reason why we won't keep rising into early August.


sp'60min

Summary

Today is largely just another complete waste of time for the bears.

Stocks like FB, BIDU..and so many others are all rising on 'better than expected' earnings. The fact that such expectations have been a massively lowered across the last few months..is entirely irrevelant.

This situation, both in terms of corporate earnings, and econ-data, doesn't look likely to change for a very long time.

For most out there, it has to be asked, why bother with this crap any more?


VIX update from Mr T.




back later..