Wednesday, December 7, 2016

The Juggernaut Rolls on...12.07.16

New highs on modest volume as the algos go nuts mid afternoon.  Symptomatic of underlying instability in the markets the VIX went green in tandem with the SPY surge and VXX also swung from dead red to bright green. Something is clearly out of whack and maybe clearly heads will prevail in Thursday's action.  In case you haven't noticed we are EXTREMELY overbought at these levels but Hey!...who's complaining other than the massive hedge fund short positions.
For now momentum is the place to be per our current M11 market updates.......