13 January 2014

SP 500 and NDX Futures Daily Charts - WakuWaku Dokidoki

That's Japanese for the incredible feeling of heart pounding excitement-- as you push that pedal to the metal on a really hot new Toyota. 

For a bearish sort it might be the feel of the air rushing over your body as you fall off a cliff, perhaps.

So the bears got a brief thrill today as stocks 'finally' peeled off a second layer of the year end paintjob from just a few weeks ago, and slipped a bit off their Fed blown asset bubble.

The VIX is a bit more understated, coming as it has from almost still life complacency even after last weeks Jobs miss.

Follow through is everything, and so fare we have not yet broken the uptrend on the March SP 500, which is around the numerically important 1800 level.  So the bearish excitement is probably premature, as it has been since the last meaningful correction in 2011.

This weeks economic calendar is included below. It is packed with facts, but only a few market movers in the bunch.

Chartered offered a figure slightly north of $61 Billion for Time Warner after the close.

Have a pleasant evening.