Once again the Qs were the star of the day (the XLE's put on the best show in the broader market), managing to eek out a .16 gain at the close. Today' action was similar to yesterday with few clues to suggest any change of trend.The VIX made a modest little pop in the first hour, and then rattled around R1 for the remainder of the day. It continues to shadow the down sloping lower band. The widely anticipated bottoming of the VIX still seems elusive.
The bulk of the market weakness today was limited to the DOW; SPY closed down only .18 and the IWM only .03. This market does not want to go down.
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