10 October 2013

SP 500 and NDX Futures Daily Charts - Rally Time For the Doomed

Stocks popped hard from a relative extreme of VIX riskiness, as a new offer from the House Republicans gave the markets hope that the debt ceiling on October 17 may be deferred for six weeks.

Let's see how this works out. All the other problems and fundamentals remain, but it is perilous to trade thin volume markets that are running on event driven news.

One day its all gloom and doom, and the next day its all coming up roses and blue skies again.

The pros like volatility and the brokerage houses like transactions and leverage.   Its a fraud thing.

P.S. I hear that President Obama has turned down the offer of a six week extension on the debt ceiling.

Have a pleasant evening.