12pm update - minor opex chop

The market is holding slight declines, with the sp -2pts @ 1687. Most interesting though is the VIX, which has broken 5% lower into the 12s. Whilst MSFT is getting trashed -11%, the main market has little concern about longer term prospects, whilst the Bernanke continues QE-pomo.


sp'daily5

Summary

I suppose the sub'4 is done, but really, the bears have been mis-reading up cycles for the last four years.

What if this is still sub'3 ? Hell, at the current rate of increase, we'll be sp'1800/1900s by early autumn.
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MSFT price action is interesting, not least in the put options, some of which are now up 4000%.