10am update - new week, same chop

The market opens with the same weak minor chop that we saw for much of last week. This still appears to be the best the bears can muster. Metals and Oil are both moderately lower. With heavy QE-pomo later this week, equity bears face the usual problems.


sp'60min

Summary
 
*VIX has broken into the 11s...despite the main indexes being moderately red. Market remains utterly fearless.
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Not the most exciting of opens, but as ever..there is action if you look hard enough. I realise there is a lot of talk - not least using the 1929 analogy, but frankly, that seems like the same crazy talk we've seen since early 2012.

Even hitting 1810/00 looks...very difficult this week.

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*notable strength in Ford, and we already have a brief break over the 50day MA.

Ford, daily

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stay tuned!
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Lots of moverment in the tech-hardware...

BBRY, CREE, both -6%.
JNPR, +9% (earnings?)

Tech behemoth...HPQ +3.5%. Ironically, since it was booted from the Dow index, the stock price has done well.


10.30am...and the indexes take out the Friday high...sp'1843...it'd be pretty impressive if the bull maniacs can break 1850 today.

VIX told the tale at the open...with the break into the 11s.