Please excuse the sporadic posting, still in great pain as a result of my spinal surgery.
Stock markets around the world are back to rally mode with the exception of Japan.
The Olympic euphoria has even creeped into the cryptos with bitcoin up 10% for the day.The Dow is slated to open with another 300 point rise open after the roller coaster ride on Friday.
I’ll be very interested to see the New York open as I have written previously about the Plunge Protection team doing most of their work in the pre-open market buying futures on the exchanges.
The VIX is now below 30, meaning that volatility has moved toward the old normal levels, before the Fed perverted the markets some 10 years ago.
Let’s see where the US stock market indices stand at 10AM Monday to assess where we stand.