Things were coming up rosy today as housing starts and new unemployment claims had the bulls snorting, even while they shook off the Philly Fed.
Intel turned in mediocre results after the close, except perhaps for gross margins.
Complacency is not quite the word for this market overall.
Take a look at the VIX chart at the bottom, and the Relative Strength Index which has flatlined since the first of the year.
Perceived volatility is well-managed, but for how long, by whom, and why?
I do tend to think this is a 'pool operation' as a set up for a takedown, but one cannot be sure. I don't think it is anything official or quasi-monetary, but time will tell.
