Pre-open Wednesday 23rd December
As the SP500 index came close to breaking above its Bear Market 1/2half level (1121.5) investors appear to be very complacent about the risk of a market correction with the VIX closing at its lowest level since August 2008.
The ISEE (equity only) index had another high number at 212 which lifts the 10day ma to 176 (although this got as high as 202 in October).
I have very little to add to Tuesday’s comments (above) we still wait for Significant Buyers or Sellers to show their hand.
1108 poc is First Level support again today.
