10am update - moderate weakness

The main indexes are lower, but there is again the usual lack of downside power/kick. Sp' is only -0.7%, and already trying to claw back to the 1680s. Similarly, the VIX hourly/daily is already offering a black-fail candle to the equity bulls.


sp'60min

vix'60min

Summary

Yes, it is an interesting open, but there really isn't any major concern yet.

Bears still look weak, and the 1660s now look difficult to hit. Again, its just pathetic how weak the equity bears are. Can't even manage a 1% decline.

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*I'm out, exited index shorts at sp'1679.

Bears look simply lame. Complete lack of downside power..and the VIX is suggesting we could close green. 


10.19am.. How many times do the bears need to see an opening black candle on the VIX to get the hell out ?

Ohh, I'm guessing ..more times.
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Another failed open for the bears, and with sig QE today of around $3bn, do not be surprised if we flip green later today.

yours..back on the sidelines.