Friday 22 August 2014

Pre-Market Brief

Good morning. Futures are fractionally lower, sp -1pt, we're set to open at 1991. Metals are trying to bounce, Gold +$2. Oil remains weak, -0.4%. Fed chair Yellen is due to speak at Jackson Hole at 10am... and Mr Market will certainly be listening!


sp'daily5


Summary

We have a very interesting day ahead.

There remains threat of a reversal, not least since we're now close to the upper bollinger on the daily cycle.

Best case for the bears... a 2-3 day down cycle of 1.5/2.0%... to sp'1960/50s..with VIX 15s.

Worse case... continued melt into the 2000s... 2010/20 by end month.
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End week doom chatter from Hunter



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Good wishes for Friday trading!

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9.37am... ohh the humanity, sp -0.2%....the drama!

Airlines are fine though, UAL +1.4%


9.45am.. VIX +4%..but really... that is minor... so far this month, VIX is -26%