Monday, 19 October 2015

1pm update - minor chop

US equities are broadly flat.. and stuck within the sp'2035/30 zone.. along with VIX 15s.  USD is holding moderate gains of 0.4% in the DXY 94.90s. Gold -$2. Oil -2.2%.



Little to add... on what is arguably a day of quiet consolidation.. before the next move higher.

Equity bears have two opportunities to reverse the hyper-ramp...

1. ECB...Oct 22'nd, a Draghi failure to threaten QE.. and inspire more 'easy money' coming sentiment
2. FOMC...Oct'28th a market losing faith in the Feds refusal to raise rates.

Right now, just one of those would be enough to retrace to the sp'1950s.

notable strength

DIS, daily

The $110s look due late today/early Tuesday... as the Star Wars hysteria will exponentially grow into the Dec' release.

back at 2pm