23 May 2013

SP 500 and NDX Futures Daily Charts - Buy the Dip, Skip

World markets sold off hard overnight, but the irrepressible center of the empire managed to rally off the stock lows today on 'better than expected new home sales, and other economic indicators in line.

VIX ticked up a bit, but all is well in a market marked to fantasy.

The US has a three day weekend, so tomorrow is expected to be quiet, particularly in the afternoon when the adults head out early to their shore homes leaving junior and the algos in charge of the world.