No clarity. Was hoping that by today there would be some kind of sign that markets were getting ready to roll over but nothing so far. Still expecting this to happen but with CSCO’s earnings be received so well then it doesn’t appear that much will change tomorrow.
The $SPX/$VXO & $SPX/$VIX charts I’m following are getting more and more stretched to the down side and the market should react to the near absence of market fear, but one never knows. Maybe this time will be different and the markets will just rally on. Time will tell.
I remain in cash and cannot commit fresh money to the market at this time because I need the safety of a pull back in order to do that. Until there is a pull back, I’m just going to watch from the cheap seats.