Tonight's Ponzo consensus forecasts have turned bearish on SPY and flatline on TLT.
The VIX maintains its scary outlier scenario as a real possibility as traders have become bored and complacent with the recent 3 week run up.
Should you chase new highs? Good question. Can we really break out another 5-7% before Xmas or are these oversold SPY markets due for a pullback into the 212-218 range?
The Qs continue to look stronger than SPY and that was a nasty reversal on the Russell today, coupled with a retreat on the financials as market gurus lowered forecasts on several of the $ majors.