2pm update - bears throwing bricks

With the indexes all moderately positive, it is somewhat understandable if some equity bears have thrown a few bricks at their trading screens today. Mr Market has little concern, and does not believe the US will default on debt/interest payments. VIX is reflecting the lack of concern.


sp'60min

vix'60min

Summary

Last nights futures of sp-15pts..is now a fuzzy memory/dream.
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Obviously, until we get an agreement, it is risky to be involved on the long side, but clearly, today again showed...underlying pressure remains to the upside.

*metals look weak...whilst Oil is trying to hold onto the earlier moderate gains.