sp'60min
VIX'daily3
Summary
*opening black-fail candle on the VIX.... which itself has just seen its Jan' opex, settling @ 20.91
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No doubt those short at the open will be furious as this latest little rumour. Far from having a chance at break sp'2000 today... market is now vulnerable to 2030s.
However... it still looks to be a day of chop... most seem content to wait until the actual announcement.
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re: QE.
Would 50bn a month be seen as a disappointment? To some... yes, but frankly, this would effectively be QE1 for the ECB, outright t-bond buying... aka.. QE-pomo.
Right now, equity bulls should hope Draghi goes for something in the range of 700bn or so. Personally, I'd be VERY surprised at anything above 800bn.
Across the last week, I've seen talk of 1-2trn... which frankly, seems like crazy talk.