12pm update - minor chop

Equity indexes are pretty mixed. The Dow is +90pts, whilst the Nasdaq, Trans, and R2K are all moderately lower. Metals are starting to look weak, whilst Oil is building gains, +1.7%. Notable mover of the day remains TSLA, -$24 @ $152.


sp'60min

Dow, daily

Summary

It really is a bit of a mess today.

I think it is fair to say, without the QE (in a normal universe), we'd be seeing some rather significant declines today. Instead of declines though, we have a Dow index that is trying to break..and hold historic highs.

As I noted recently, I want to see Dow 15800s, to confirm 16k will be hit, and then 17k by next spring. So long as Dow 15k holds, equity bulls have nothing to worry about.
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VIX update from Mr T.



time for lunch!