Wednesday, 31 October 2012

10am update - up and running

Good morning! The market is finally running again, and as I thought yesterday, it will likely be a very choppy and confusing day. A definitive trend won't likely be clear until tomorrow at least.

*Chicago PMI: 49.9  vs 51.0 expected, still warning of recessionary pressures.


sp'weekly, rainbow



So...we're opening higher (especially on the transports) but its very likely to remain

There will be a lot of end-month book squaring to do, despite the open, its still very viable we can close red.

The VIX is just a touch lower, and certainly does not confirm/support the current index gains of 0.5%
It is somewhat disturbing to realise that tomorrow it will be November, and 2013 really won't be too far away!

back at 12pm