vol surge, biggest bar, so might be a pullback here first which likely would be bought.
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I think this vigorous rally have broken the back and hope of Bears...it's very hard to imagine any significant market correction will happen in near future...every time they tried, they slaughtered...very frustrating..no man's land..too chicken to be a Bull and no confidence in Bears...
VIX pops under but trying to hold 20d/50d convergence.. 13.51/59 ... not so sure about this bull... are we in a bear phase?.. face ripping rallies with sell the "rips"
ES stopped hard at the R3 pivot just in time for European close.
Does this move reset all the indicators to neutral from oversold?
With the bond market on life support I really wonder how much more debt corporations will issue in order to buy back stock. A year ago with dropping rates and a slowly growing economy it was easy to go to the board for buybacks, now not so much. If IBM can "hit the wall" then how many others are also running out of silver bullets ?
One has to love this market, excelent for trading, day or two bull, than bear, or just wait for 0830 in am, than you get pretty good idea where the money is, after whatever data is suppose to come out.
Have a fun guys!
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i think the market is waiting for the ema20 blue curve to catch up then probably another leg up.
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