This week's VDX updates show the negative reaction to the FED's lack of action and accompanying dovish comments. Some informed economists who have watched the FED's behavior throughout the whole QE debacle are now suggesting that not only will the FED NOT raise rates in 2015 or 2016 but that there are arguments to be made supporting the FED's commencement of a new QE program.
That would raise a few eyebrows. For now its one day at a time and the forecast for this week is neutral to bearish. The following week we get to the first of the month...typically bullish...but it didn't turn out to be so last month. Historically this is the most bearish week of the year.
