All US indexes look set to close with powerful net weekly gains of around 4%.. which on any basis, is the best week in a very long time. VIX is set to close flat... in the 16s. Metals are a touch weak, Gold -$2. Oil remains especially weak, -0.8%
A pretty crazy weekly gain, but then.. a bounce was expected..ahead of the FOMC.
The only now is whether this is merely a bounce...or the start of a run to new highs in the 2100s by early 2015.
Personally, considering the recent technical damage..I'm calling it a bounce... and will short it as such.. next Wednesday.
AMZN weakening... -8.7% @ $287
3.24pm.. the chop continues... with VIX flat in the mid 16s.
back at the close.......