Friday 31 October 2014

11am update - Halloween trick... and then a treat?

US equities are holding significant gains, although there are some signs of a reversal. The VIX has already turned positive (if briefly). Metals remain in collapse mode, with Gold having lost the 2013 low of $1179, currently -$35, with Silver -3.7%. Miners GDX -4.5%.


VIX'60min


GDX, daily


Summary

Suffice to say... a wild way to end the month.

A sig' equity retrace of some degree seems likely. Right now, best downside case would be 1970/50 zone.

Any hopes of sub sp'1900s.... now off the table.

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time to shop... back soon.
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11.20am.. Despite the continued gains... VIX holding just a touch lower.

Regardless of the exact close though, equities are set to close the month strongly.
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Notable weakness, Oil -1.3%