Monday, 30 November 2015

11am update - no significant downside pressure

US equities have likely seen the low of today @ sp'2084, with VIX maxing out at 16.19. A break into the 2100s looks due within the near term. USD continues to hold the giant DXY 100 threshold, on track for a net monthly gain of around 3%.



So.. a lot of chop... but it should be clear, there simply isn't any sig' downside pressure. It is merely a matter of time before Mr Market starts systematically running multiple sets of stops in the sp'2100s.

It is month end of course..  by definition... choppy... the real direction should come this Thurs/Friday.

notable strength... oil/gas drillers

APC, daily

The floor looks secure.. and the $70s look due.

time for an early lunch