The financials continue to lead us. VIX had a big jump today. Was the VIX closing the gap between cash and January futures or is there something more sinister at work? Some more upside on Tues and Wed follow by consolidation on Thurs and Fri would seem logical; given seasonality and POMO schedule. If fund managers are deferring gains until 2011, we may not see much selling for the rest of the year.
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