12pm update - 'we're off the lows'

The main indexes are moderately lower, and indeed as Queen cheer leader Bartiromo would note '..we're off the lows of the day'. VIX has already considerably slipped from the opening spike high of 17.49. Metals and Oil remain weak, but similarly...'off the lows'.


sp'60min

vix'60min

Summary

What to say? Well, I think many bears have lost themselves in another round of 'this time..its really going to happen' hysteria.

I wish I could believe we're now in the early phase of a massive move lower, but I just can't see it happening whilst the Fed are throwing 1 trn a year at the market.

The US Govt' shutdown, even if it does occur will be very brief, and affect hardly any significant services.
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VIX update from Mr T.



time for tea