12 September 2014

SP 500 and NDX Futures Daily Charts - Skittish, Toombs, Very Skittish

"Don't know about this new crew of yours. They seem a bit skittish. Probably shouldn't tell them what happened to the last crew...

Skittish, Toombs, very skittish."

Vin Diesel, Chronicles of Riddick

Stocks were on another down leg today, taking back the late afternoon stick save from yesterday, and a little bit more.   The selling was very orderly and the VIX barely bleeped.

The spokesmodels were claiming this is a 'good news is bad news' thing, since retail sales grew more than expected in this morning's economic news. Well, not at all, if you look at them ex-auto.

The market was in profit taking mode today, and most likely based on international jitters ahead of a weekend.  Greed was struggling with just a twinge of fear.

I speak to those jitters in tonight's gold and silver commentary above.

Have a pleasant weekend.