Friday, 16 October 2015

2pm update - night falls way before the close

US equity indexes remain in micro opex chop mode.. and there is zero reason why that will change before the close of today. USD is fractionally higher in the DXY 94.40s... with Gold -$1. Oil continues to see swings... now +0.6%, but still net lower on the week by around -5%.


USO, weekly


So, a rather powerful net weekly decline for Oil of around -5%.. which is roughly a 50% retrace of last week. It will be important to see Oil re-take and HOLD the $50 threshold before end month.

As many realise.. the equity market is often swayed by Oil.. so those equity bulls seeking a key break above the 200dma - sp'2060s, are going to need to see Oil >50.. if not $55/57.

As for night...

1.15pm EST... in London city

For me, the end of summer is harder to deal with than 150 consecutive net daily gains of Dow +300pt ... whilst 100% short on front month index options. Seriously, how am I gonna make it through six months of this grey horror... in a city I thought I'd have left a month ago?
back at 3pm