Friday, 27 September 2013

12pm update - bulls trying to hold the sp'1690s

The main indexes are holding moderate declines, with the sp -7pts @ 1691. The VIX is showing slight market concern about a looming US Govt shutdown (however temporary that might be), +5% in the 14.80s. Equity bears should be clawing for a weekly close in the 1680s.



Certainly, the bulls are not showing any real sign of power, although the MACD hourly cycle will be likely be looking floored this afternoon.

Considering the US Govt' shutdown issue, the obvious question is 'who wants to go long across the weekend'?'

Thats right...very few. So, for those on the short side..there remains the possibility of a down move to the 1680/75 zone, if not today..then next Monday.

*something I've not mentioned, the USD is -0.4% in the 80.10s. Any daily closes in the 79s will bode for 77s in October, which would help to negate any general market downside. I'm sure many will cover that issue across the weekend.

VIX update from Mr P.

time for tea!