Monday 4 November 2013

12pm update - moderate weakness

There is clearly some weakness out there, although the two leaders - Trans/R2K, are +0.9% and +0.7% respectively. Despite the heavy QE today, the headline indexes (Dow, sp, Nasdaq) have a fair chance of closing at least a touch lower.


sp'60min


Trans, daily


Summary

A quiet start to the week, but with the transports breaking new highs (no doubt helped by lower Oil prices), you can still see the underlying upside pressure.

--
VIX update from Mr T.



time for lunch!