05 August 2013

SP 500 and NDX Futures Daily Charts - Complacency Reigns, But Jitters Behind the Scenes

There was a light volume choppy market in stocks today despite the 'better than expected' number for ISM Services.

Richard Fisher came out and make hawkish comments about the Fed's policy, which dampened the markets.

VIX dropped again, but you have to wonder about this given the 'heightened threat' environment that is alledged to be the worst since 9/11.

This is a light data week, and the equities markets will lack direction except from earnings and secular events.