Another day, another positive ES on the screen. Even with the tumble from Intel last night, it looks like the overnight forces (including, surely, Draghi’s jawboning last night) have dropped the Paas color tablets into the water and changed red to green. We haven’t even had a pair of solid down days for months now:
The $VIX has been scraping along in nearly pre-teen territory, and complacency reigns o’er the land. One key chart to watch, of course, is crude oil (which has its weekly inventory report an hour into today’s open). Although it certainly seems we’ve moved into a general uptrend (which is coming close at times to threatening Gartman’s life, as we all know), there are, within that uptrend, regular bouts of weakness, which we seem to be within again.
