10am update - indexes red, vix red

Those bears hoping for some consistent weakness into the weekend should be noting that whilst the indexes are moderately lower..so is the VIX. It remains a fearless market, and there looks to be zero reason for taking any short positions across the weekend


sp'daily5

vix'daily3

Summary

*I won't be meddling today, and with a rather giant QE-pomo on Tuesday morning, I'm likely just going to sit back until the latter part of Tuesday.

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I think the opening action in the VIX says everything the bears need to know.

Everyone - even the cheer leaders on clown finance TV, seem agreed, the jobs data is very disappointing..and yet...the market is not significantly lower.

The 'new normal' indeed.
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