Monday 17 November 2014

12pm update - slipping lower

US equities continue to display a touch of weakness, with most daily index cycles set to turn negative at the Tuesday open. With the higher USD, metals remain weak, Gold -$8, whilst Oil is -1.1%. VIX is holding gains of 8% in the 14.40s.


sp'daily5


VIX'daily3


Summary

Not much to add. The two leaders - Trans/R2K are leading the way lower, and are highly suggestive that the Thursday peak of sp'2046 is a short term top.

Primary downside target zone remains 1980/50.. but that is clearly out of range this week.

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VIX update from Mr T.


I'd agree on 'little interest in November', but we're due to turn positive cycle tomorrow... bodes good for the equity bears.
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time for tea