Monday 21 October 2013

2pm update - transports pushing to new highs

Whilst the headline indexes see minor chop, the old leader -Transports, is pushing to new highs, +19pts @ 6849. Could anyone doubt the 7000s won't be hit in the near term? Meanwhile, Oil remains weak, and with the break <$100 WTIC, a further 2% downside looks viable across Tue/Wednesday.


Trans, daily



USO, daily2


Summary

Quiet day...and no doubt the QE fuel of $3bn is helping to take the edge off what selling there is - after the ramp from 1646 to 1747.
--

*NFLX earnings at the close of today..so that is something to stay awake for.