Volatility slips lower into the close

With the indexes managing to claw back to flat by the close, the VIX failed to hold very minor opening gains, and closed -2.3%, to settle @ 13.41 There is still marginal upside momentum, first target remains the lower end of the gap zone of 16-18.


VIX'60min

VIX'daily3

Summary

Another day where the algo-bots were more than capable of melting everything back to flat, fuelled by the POMO $...and cheer leaded by the maniacs on clown finance TV.

*I should probably just cut/paste the above, as it will probably suffice for the next few years.

After all, the POMO ain't going to stop any time soon.

Closing Brief

The bulls have fully managed to hold onto their gains from Tuesday. There is absolutely no downside momentum, bears remain utterly...and laughably powerless.


*hourly charts remain bizarrely simple, but then the trend is simply..slow grind up.

sp'60min

Summary

A seriously dull..tiresome, mind numbing day of nothing.
-

With POMO set to continue for months, if not many years...this sort of day is something that will be the norm.

Get used to it.
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12pm update - morning dip...POMO FTW

Early morning minor declines turn back to fractional gains as the POMO money floods into market land. It remains a strange phenomena that most still refuse to respect. Just what part of 'endless QE' is hard to understand? Is it the 'end'..or the 'less' part?


sp'daily5

vix'daily3

Summary

Same old nonsense. No power on the bear side....

POMO $ coming in..algo-bots melting it upward, all being cheered on by the maniacs on clown finance TV.

Bernanke is to be saluted for his continued successful actions which are absolutely propping up this market.

Have a great lunch Benny!
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SLV, 60min   Both Silver and Gold are both within a day or two of snapping.

The only issue is which direction! I'm guessing lower, to around $29.