16 July 2014

SP 500 and NDX Futures Daily Charts - Blue Skies, At Least Until September

eBay reported better than expected numbers after the bell. What a surprise.

Stocks had an upward drift today, in a dull market trade.

The VIX shows the markets are once again complacent.

I would expect them to stay on a generally rosy trajectory until the Alibaba IPO can be spurted out in early August. The Street has a lot of vested interest in what may be one of the largest bell-ringing IPOs in history.

Have a pleasant evening.