What might tip the scales… from last night’s ETFR Newsletter:
In spite of a positive disposition for most of the day, the S&P 500 found fairly consistent supply at the 1,300 level, leaving price to remain within its recent range. Sour earnings after the bell have a slight pullback underway, and, although the summary dashboard looks the same as yesterday (a veritable draw), another day in overbought territory has the majors looking quite overbought in both price and time. In addition, a big move alert is now active. Tomorrow’s Michigan Sentiment reading is expected in at 73.2.
The VIX is plus 21% on the day as I write this. Here is a live feed of the evolving Egyptian developments.
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