The stock market is ping-ponging right now, and VIX diverged from the sell off today.
The economic data is very disappointing, and event risk in Europe remains elevated.
Let's see how long this coiling can go on before the markets start to move.
"Senators disturb us by reminding us of the possibility of large numbers swarming from China; but the answer to all this is obvious and very simple. If the Chinese come here, they will come for citizenship or merely for labor. If they come for citizenship, then in this desire do they give a pledge of loyalty to our institutions; and where is the peril in such vows? They are peaceful and industrious; how can their citizenship be the occasion of solicitude?"
Senator Charles Sumner, 1870
20 July 2012
SP 500 and NDX Futures Daily Charts - Interesting Divergences
The stock market is ping-ponging right now, and VIX diverged from the sell off today.
The economic data is very disappointing, and event risk in Europe remains elevated.
Let's see how long this coiling can go on before the markets start to move.