12pm update - choppy top?

The main indexes continue to see minor chop, and in some ways..maybe it is some kind of short term top. Regardless, equity bears face continued QE, and a default...that is not going to occur. Metals and Oil are both a touch weak. The VIX is holding small gains of 3%.


sp'60min

vix'60min

Summary

Its turning out to be something of a quiet day. Considering the ramp from 1646 though, a few days of nothing is perhaps what is needed to fully reset the cycle before the next lurch higher.

I am generally not even watching the news this week. Tired of the nonsense 'could the US really default?' talk. Beyond lame. Even Zerohedge is tedious with article after article on how its all terrible.
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VIX update from Mr T.



time for tea!