Wednesday, 14 October 2015

1pm update - turning positive

US equities have seemingly put in a short term floor of sp'1993, and are in the process of turning positive. Net daily gains now look possible, with VIX having maxed out at 18.78. Metals are notably strong, Gold +$9.. as it is making a play to break/hold above the 200dma.


GLD, daily


*the action in the metals is certainly bullish in the near term.. and is no doubt being helped by the weak USD... itself being pressured by concerns rates won't be raised until summer 2016.

So.. the market is pushing higher for the latter half of the day, and those seeking much lower levels are going to be waving the white flag soon enough.

notable strength: INTC, +1.3%... a very strong reversal from the earlier declines.

NFLX +1% in the $111s..  with earnings at the close of today.

A somewhat sunnier day in London city...

Hyper bullish sunshine
back at 2pm