10am update - new highs

Mr Market is headed to the moon. Some will contest that notion, yet..they are generally the same maniacs who were touting a default mere days ago. Its been a good week for the bulls, with index gains of around 2%..which makes for 3% so far this month.


sp'weekly8

vix'weekly

Summary

Right now, there is indeed a cluster of people touting 'the grand top is around 1750'. Hell, even Oscar himself is looking for 1750 or so in the current rally.

Regardless of what immediately comes after 1750s....so long as the QE keeps coming, we will 'broadly' keep climbing.

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The weekly VIX chart is pretty amazing to reflect on...VIX has almost collapsed in half, from the 21s to the 12s.
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*Metals looking weak..and Oil is failing to hold the opening gains of almost 0.7%. Having broken support yesterday, Oil looks set for another 3% lower.


10.36am...market cooling off a bit..but really..new highs..all the same were made.

AMZN..the hillarity continues..+3%..to the $320s.

A $500 stock..with consistent losses? Great market!