Market Recap – Jan. 31, 2013

Standard, daily recap today.  Monthly recap over the weekend (no post on Friday).

Market had a fairly quiet day.  Momentum is definitely waning.  SPY and QQQ were down, IWM was up.  SPY had a bit of a sell-off right at the close, but don’t read too much into it.  After the closing bell, Congress kicked the can down the road a little more by extending the debt ceiling (…yes…again) and after-hours futures are pointing up.

Investors still cheer on any additional debt at this point.  The money printing will kick us in the ass at some point…the trillion $$ question is when.

Payroll figures are released early tomorrow. I will be busy drinking coffee and yawning when it happens.  Today’s charts (courtesy of StockCharts.com and VIXCentral.com) are below…plus a bonus one from Bianco Research via The Big Picture.

Disclosure(s): None

SPY daily chart

BPSPX chart

NYMO chartVIX Term Structure chart

Survey of Stock Newsletters

Tags: , , , ,

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 565 other followers

%d bloggers like this: