Some have argued that the market is dead. They may be right, as the following sequence of S&P 500 closes from the past 5 days:
1472, 1472, 1471, 1472, 1473
…suggests that V-Fib has set in among the equity indices. Perhaps, as the movie Flatliners noted “Some Lines [like SPX 1470] Shouldn’t Be Crossed.”
And maybe this sums up the lifeless corpse even better:
Today, $SPY had the fewest NBBO price changes since Jan 3, 2011
— Eric Scott Hunsader (@nanexllc) January 17, 2013
Meanwhile the 10Y Treasury yield has slipped from 1.90% to 1.82% over the same period.