26 February 2013

SP 500 and NDX Futures Daily Charts - Bernanke Bounce

Housing was rosy this morning, and perhaps deceptively so.

Bernanke calmed the markets and gave the bulls some cajones to by the dip.

Some dip.

The sequester looms large. A lot of bets are on that they will kick the can down the road again.

I'm not willing to take that bet at this time. I am too uncertain here about the short term in this phony market, after this big spike in the VIX. So I have taken a lot of money off the table.