Wednesday, July 23, 2014

All Quiet for Now......7.23.14

Solid earnings reports from MSFT and AAPL helped keep the markets mostly in the green although we did close the day with both VIX and XIV in the red...always a cause for closer scrutiny as this convergence frequently signals a big momentum least short term.
On the bullish side SPY keeps creeping towards the 200 mark and with most earnings reports coming in positive and dwindling interest in the Israeli /Hamas conflict and the Ukrainian air disaster the odds favor a risk on strategy.