Thursday 11 September 2014

Closing Brief

US equities closed slightly higher, sp +1pt @ 1997. The two leaders - Trans/R2K, settled higher by 0.4% and 0.6% respectively. Near term outlook still offers the low sp'1970s, before the broader uptrend resumes.


sp'60min


Summary

A somewhat naturally sombre day of minor chop for the US capital markets, things should be more dynamic tomorrow.

All things considered, I still think we have a fairly high probability of at least slipping to the low sp'1970s.

I just can't see any significant buying until we first test the 50 day MA, now at 1972.
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Sunset at Mt. Doom (live stream link subject to change every few days).



Bardabunga remains a viable black swan for NW Europe this winter.. but for now... the volcano itself remains quiet (aside from quakes)... all the action so far is merely in a nearby fissure.

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more later... on the VIX