spdaily5
VIX'daily3
Summary
It was not exactly the most exciting day to start the week.
It would seem sp'2213 was a short term high, and we're in the process of a retrace of at least 2%, that should see the sp'2160s, where the 50dma will be lurking in early December.
VIX is naturally starting to tick upward, but at best, even if sp'2160s, we'll likely see no higher than 16/17s. Even with the fed raising rates Dec'14th, its difficult to see VIX breaking above the key 20 threshold.
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The Bullish November
sp'monthly3c
Regardless of any further cooling across the next two days, November is set to close powerfully bullish, especially after a quartet of new index highs.
Goodnight from London