Thursday 17 December 2015

2pm update - viable floor of 2047

Price action remains a bit of a mess.. as the market is still settling into the notion that rates are no longer zero. There is a viable floor of sp'2047 - with VIX 19.05. USD is holding powerful gains of 1.4% in the DXY 99.20s. Metals remain very weak, Gold -$22, with Silver -3.0%. Oil -2.0% in the $36s.


sp'60min



VIX'60min


Summary

Outlook offers threat of 2025/20 early tomorrow. If that was hit... we'd still likely close considerably higher in the 2040/50 zone.. for quad-opex settlement reasons.

Broadly though... despite this mornings stronger than expected retrace... nothing has changed.

Who wants to short Santa?  Or worse.. how about Jedi ?
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notable weakness, miners,  GDX -5.4%... as Gold remains headed for the giant $1000 threshold.