2pm update - the algo bot melt continues

The Dow has followed the sp'500 with a new historic high of 17708, that is 1853pts across 25 trading days.. an average of 74pts (almost 0.5%) per day. When will the madness stop? Perhaps the real question is... are the central banks going to buy the entire world equity market?


Dow, daily

Summary

*VIX is in typical melt mode, -3.3% at 13.50.
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So... day'25 from the intra low of Oct'15..and we're still grinding higher.

Right now, the only hope for the equity bears is for Mr Market to use the FOMC minutes (due Wed' 2pm).. as an excuse to break lower. Considering today though... there is low confidence in any such outcome.
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With metals managing to hold moderate gains, the miners have broken back above the GDX $20 threshold. Long term trend reversal?  Hmm...

Notable strength: airlines, DAL +3.7%, UAL +4.5%.... the lower oil prices (-1.1) are no doubt the primary reason.
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Chatter from Riley...


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