NOON LOOK

CONFUSED, well this guy above doesn't look confused. The internals have flipped to +2400 and all major sectors have flipped to the upside. There were some very high TICK readings when the market started ripping higher. One reason I am hearing for the spike is very oversold conditions on the hourly charts. Could be. The 10 year Bond rate is up a bit less than 1% at 4.769%. The equity markets usually do not like higher rates because of the competition from the bond markets and the higher borrowing costs for corporations. Makes the morning rally sellable in my opinion. The fly in the ointment? THE VIX. It is now lower by almost 7% and under its 10 day SMA. I would not be chasing the stocks here. Just read the recent post on buying equities when the VIX is above or below its 10 day SMA.