Monday Morning Market Minutes
The Ugly, The Bad, and the Good
The Fix is In? Better yet the VIX is in? I covered this topic over three years ago: The FIX is IN
This mornings massive Spike off the morning lows brought with it such a vigor and a confidence that had me scanning for news. Was there another Russian Jet shot down? That spiked stock futures. Had a another Ebola patient toured NYC bowling halls and night clubs. Perhaps a thimble size country had decided, without warning, to take 30% of its residents savings?
Like watching a great television drama, the market continues to dispense that feel good ending. Stocks closed today, just like yesterday, at session highs. The world is a better place today than it was yesterday, with stock prices rallying, crude oil shrugging off a massive inventory build, and likely another stellar jobs report coming on Friday. The real question is: When is Season 2 of Fuller House coming?
The market continues to emulate the move from late last summer and early fall. A few weeks ago I posted this chart:
If this plays out like last summer, brief consolidation followed by more sharp upside