Wednesday, 14 October 2015

11am update - WMT upsets the market cart

With Walmart (WMT) snapping 9% lower, the broader market has seen an excuse to lose the sp'2K threshold. Next key support is around sp'1990/85.. where the 50dma is lurking. Gold is building gains, +$8... whilst Oil sees renewed weakness, -1.3% in the 46s.

WMT' 5min



re: WMT. A case where the market shows it really only cares for immediate term... in that 'investing for the long term in the company' is an excuse to slam the worlds biggest retailer -10% in a matter of minutes.

Will be interesting to see how WMT closes the day.

As for the broader market.. so.. 2K fails to hold.. but broadly... price action shows little concern.

It is notable that the VIX remains below the key 20 threshold.