12pm update - tech is leading the way

Whilst the main market remains somewhat choppy, there is notable strength in the tech sector, with the Nasdaq breaking a new high, no doubt helped by a rising AAPL. Metals remain moderately strong, with Gold +$5. Notable strength in TWTR, +7.2%


Nasdaq daily

AAPL, daily

Summary

An interesting..if quiet start to the week. Certainly, bears just don't look like they have any downside power..but then..that has been the case for the entire year.

*there is a secondary heavy QE due this afternoon, $3-4bn, bears..beware.

--
VIX update from Mr T.



Indeed, it remains the case..no one is buying near term VIX..no point, ahead of Christmas. Big players are looking for protection across the next debt ceiling/budget zone of late Jan/Feb.

time for tea :)