On Monday, one could be forgiven – – especially if that person was of a bearish disposition – – to be feeling like this:
In chart after chart after chart, we had an honest-to-God key support failure (tinted in magenta), yet by the time Thursday rolled around, the Fed-powered buying had completely fucked the goddamned thing up negated the failure.
This action, of course, completely torpedoed the VIX, which had exploded overnight from the teens almost up to 30, but by Thursday had been smashed down to the lows from the prior week. Pathetic. Absolutely pathetic.
If you’re starting to feel like you’re losing your mind, you are far from alone.
