Wednesday 14 August 2013

12pm update - still a dull market

The main indexes remain very choppy in a very tight trading range. The bulls don't want to buy above sp'1700, whilst the bears still seem unable to break into the 1670s. VIX is higher, but only +3% at 12.75. Precious metals and Oil are both moderately higher.


sp'60min


Trans' daily


Summary

*transports are indeed  especially weak, and I'm not sure what to make of that giant volume spike on the daily (although that is yesterdays closing candle..NOT today!)
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Things remain the same..mere price-chop in the 1680/1700 zone.

Neither the bulls..or bears look able to break out of the current trading range this week.
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For the bears, there remains the problem of sig' QE tomorrow and Friday.

So long as don't put in any daily closes >1700, I'll have little concern with launching a re-short for next week...but no earlier than late Friday morning.


VIX update from Mr T



time for lunch