Is this market highly strung

Is it me or does this market feel stretched?

Here’s a few of the contradictions:

Macro Stresses

  • Votes in Egypt, France and Greece. The French vote is a foregone conclusion and the Greek vote is full of hyperbole.
  • Spanish, Italian, and European ratings downgrades
  • European Banks: Bank runs, liquidity, etc.
  • Syria…

Market Reactions

  • Bond Futures are rising (ok)
  • Gold Futures are oozing upwards (ok)
  • Europe is nearly closed 1% up (what?)
  • S&P is flat and the VIX is falling.
  • Euro is climbing (really?)
  • OPEX

It’s nearly the weekend and it can’t start too soon, as I’m reading “end-of-the world” on a macro perspective, but the markets are oddly indifferent. Schizophrenia would be apt. I’m blaming central bank interference (here).

Have a good weekend. Cash is a position…