“Modern tyranny is terror management. When the terrorist attack comes, remember that authoritarians exploit such events in order to consolidate power. The sudden disaster that requires the end of checks and balances, the dissolution of opposition parties, the suspension of freedom of expression, the right to a fair trial, and so on, is the oldest trick in the Hitlerian book. Do not fall for it.”
Timothy Snyder, On Tyranny
17 June 2011
SP 500 and NDX Futures Daily Charts - VIX Remains Elevated On Sovereign Default and QE3
See the intraday commentary for a size up of the market positioning and next week's events that may move it.