sp'daily5
VIX'daily3
Summary
US equities opened a little higher, and it was enough to generate a new historic high for the Dow. However, with the fed out of the way, Mr Market was tired, and melted lower into the late afternoon.
The VIX settled higher for a third day, the 11/12s look viable in the near term with sp'2646/36. The low teens look out of range unless sp<2624, which itself seems very unlikely.
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Meanwhile...
The Scottish regional govt, are raising taxes, despite it being well recognised that GDP is sub 1.0%. This is economic lunacy. Are they actively trying to drive capital south of the border?
see: http://www.bbc.co.uk/news/uk-scotland-42356953
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| A fine winter's day in London |
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Goodnight from London
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