Monday 2 February 2015

3pm update - chop chop

US equities look set for some chop into the Monday close... somewhere close to the giant threshold of sp'2000. VIX remains comfortably holding above the key 20 threshold, and there remains threat of VIX in the 30s... along with sp'1920/00. Metals remain weak, Gold -$5.


sp'60min


Summary

*I realise some would argue against it, but even a brief Tues/Wed' rally to 2015/25 won't negate the damage done today.
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Interesting day... at least its not algo-bot melt!
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**I remain on the sidelines, will consider picking up an index short tomorow morning. Considering the weekly/monthly cycles.. it now seems a viable trade.