A lot of not much!

Greetings from Hong Kong…on the way to Shanghai today. Will have a complete report on China this coming weekend.

Was up overnight watching and the best way to describe the action is a lot of not much. A lot of sitting, a lot of back and forth, a few things not so well, a few things act well. But a glance at new yearly highs find the same…utilities, reits, food, beverage and stuff like that. Sure…a smattering of other things but just a smattering.

We told you over the weekend that end of quarter is usually bought up or held up. Right now…held up. But this contracted volatility could lead to higher prices once done but there will need to be a lot more improvement as plenty still not working. Contracted volatility usually does not last too long but on occasion it has.