SP 500 and NDX Futures Daily Charts - Risk On, VIX Down, Hopes for QE3

Wax on and Wax off for option expiration.

The Risk Trade was On today on words from the Fed's Yellen amongst others hinting at a new round of QE3 from the Fed. Expectations are high that Europe will bail out its banks via the PIGS sovereign debts, in the manner that the US bailed out the Wall Street banks both directly, and indirectly via AIG.

If you have Level II trading you may notice that