Nurse Ratchet

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Comment cleaner time, with a “gosh, not much happening” post. The only observation I’ll make about the ES below is that the jobs report seems to have ratcheted the price of the ES from a “pretty much 2165 or so” level up to a “pretty much 2175 or so” level. It certainly seems the market is content to pin a value based on big news and and then leave it there, allowing the VIX is sink closer and closer to the single digits.

0809-ratchet