US equities continue to build rather significant gains, sp'500 +1.5% in the 1930s, with a crushed VIX -10% in the mid 16s. There looks to be another 4-6 days in the current up wave, with the bears last stand... in the 1960s.
*highly notable that the weekly candle.. has turned blue.. clarifying last Wed' as a short term low. The weekly 10MA in the 1960s is key resistance.
So... everything is fine again in market land. Across just 5 days, we're swung from 1820 to the 1930s.. with the VIX effectively being cut in half.
Now it comes down to a matter of what you think the recent down wave was. Was it just a random down wave to wash out some of the weaker bulls (with sp'2100s to come).. or was it the initial wave down of a much larger multi-month drop?
I'm still with the latter... unless we see some daily closes in the 1970s.
Notable strength: airlines, DAL +3.5%, UAL +5.0%.. now that the Ebola crisis has been resolved in the 'civilised world'.. well, thats what I hear on clown finance TV.
time for a long lunch... back at 2pm.