Friday 2 August 2013

12pm update - fearless market

Whilst the main indexes are a touch weak, the VIX is being melted lower. After all, the market has no fear in the immediate term..everything is 'fine'. Surprisingly, a VIX weekly close in the 11s now looks viable, even if the sp' still <1710. Incredible complacency.


sp'daily5


vix'daily3


Summary

Well, VIX 11s actually look viable now, not least with things pretty quiet out there.

We'll probably see a further VIX smack down in the closing few minutes of the day.
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*I remain on the sidelines, and right now, I don't expect to get involved until after the rather huge QE-pomo of Tuesday morning.
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