Closing Brief

The broader market managed a third day of moderate gains, despite some underlying weakness from IBM and INTC. Mr Market is comfortably holding within a few percent of the QE spike highs. The VIX continues to confirm that this remains an utterly fearless market.


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Summary

So, we're holding around 1% from the highs. With opex this Friday, and no econ-data of significance, this nonsense looks set to at least hold the gains for some days to come. If we're going to push to new highs, that looks more likely next week.

Regardless of the strong equity market, we continue to see increasing economic weakness, both IBM and INTC most definitely support that notion.

More later