Friday 16 January 2015

3pm update - another fun week in market land

The smaller 60/15min cycles are offering a rollover into the close, not least ahead of a 3 day weekend. Regardless of the exact close, equity bears are set for the third consecutive net weekly decline. Further weakness seems due next Tue/Wed... before the ECB print machine is spun up.


sp'60min


Summary

*I probably should refrain from adding colourful arrows on my charts.. but hey.. its my best guess.
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The last hour of what has been a pretty exciting week, not least with the SNB causing all sorts of havoc.

A number of FX brokers are having serious issues... not least FXCM. Here in the UK, Alpari have imploded... see HERE. Looks like West Ham United are going to need a new primary sponsor, lol
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Seriously though... I look at the Swiss move as a pre-cursor to all sorts of 'system' trouble across the next few years.

Notable strength: copper miners, FCX and TCK both higher by 4%
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3.12pm... Leucadia funds FXCM with 300 million... .for $250 mill of 2yr bonds....... with a further claim to 75% of the company if its sold off...

What a mess!

Market wants to sell lower into the close... sp'2008 , VIX set to close higher.


3.37pm.. Well.. so much for the sell down... sp'2012.... next zone 2015/19...

In any case.. still viable downside next Tue/Wed....


3.40pm.. short-stops getting hit hard now... sp'2015