The VIX is getting ready to fly again with the recent pullback it has had. I project a run into the 30s. This past few days has seen some distribution and now we are ready for a fall. One German bank we know has already failed the stress test and will be filled with enough money to allow it to pass the stress test. Some people can call this bullish and others say bearish and that is what makes these financial markets so great. I believe weaker commodities are called for going forward and the US dollar is getting ready to turn around and head higher.
Archive for July, 2010
First trading day of the week
Today the markets opened higher from the better than expected Aussie trade balance released Monday night. The ES along with other indexes gapped up and eventually became lost only to fill the gap and then retracing a bit. I look for choppy action tomorrow with Thursday being the important day with important economic numbers coming out
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