12pm update - day five of chop

A fifth day of minor weak chop for the US equity indexes. The VIX is arguably telling the tale though, having already broken into the 11s. It remains a fearless market, with continued QE, how are the bears going to stop the sp'1900s from coming?


VIX, daily3

Summary

So..a touch of weakness in the indexes...yet the VIX has now slipped into the 11s.

My target zone for late spring remains sp'1950/2050. Would that equate to VIX in the 10s..or even single digits before the current multi-month cycle is done?

One thing is for sure, there seems ZERO point in being long VIX for another 2-3 months at least.
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NFLX, - support at the 100 day MA?

I'm not sure what to make of NFLX. It has a pretty clear channel break, but todays action is pretty bullish. Just needs to clear the daily 10MA of 351 - where the 50 day MA is also lurking. Without question though, Q4 earnings should be okay. At least unlike AMZN, it makes a profit..if small.


12.29pm..another micro down wave...sp'1836.. bulls still have a comfortable 6pts of buffer zone. Nothing has changed since last Tuesday. Algo-bots just playing stop-run games?