Chart Porn
The extended Santa Rally has surprised many. With the light volume melt up, many are rather confused at these levels. Shorts sweating, longs enjoying, but want to exit fast, if this turns lower. Volatility has collapsed, and people now hate anything called theta. HFT still dominating the market.
These are all ingredients for some very interesting action going forward. All indices look rather toppish and some key indices are hitting major resistance levels.
Below are essential charts.
SPX, slightly long term picture.
DOW
NDX, long term weekly chart.
DAX
STOXX, lagging…
FTSE
MIB
IBEX
OMX
ATHENS, revival of the dog.
VIX, no more fear….Note the huge wedge, this could get very interesting, as people now trade in inverse panic mood.
