More of the Same?

Did you like yesterday?  We have futures off 4-5 points this morning on higher inflation (+2.5% yoy), lower real earnings (-0.5% mom), surging oil inventories, hawkish Fed testimony, etc.  But, we also have retail sales and Empire Fed popping and, of course, another day of Yellen testimony.  So, a mixed bag.

The one key difference chart-wise is VIX, which has popped up above its SMA10, SMA20 and SMA50.  This makes sense, as SPX has very specific targets in mind.

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