Tuesday, 2 February 2016

11am update - its Groundhog day... again

US equities are significantly weak, having seen a 50% retrace of the bounce-wave from sp'2081/1812. At least 2-3 days of weakness/chop seem due, before first opportunity of the 1970s next week. Energy prices continue to cause problems, with Nat' gas -6.3% and WTIC Oil -3.3%.



Much like yesterday, we'll likely see some degree of latter day recovery, although anything >1947 looks out of range until next week.

VIX is +7%, but we're only in the 21s.  Sub 20 looks probable in the near term.

notable weakness...

BAC, daily

As Q4 and Q1'2016 GDP get regularly downgraded, the threat of a second rate rise has effectively vapourised. The financials are naturally resuming lower. Next big support for BAC is not until the psy' level of $10.00.. and that is around 30% lower.

Meanwhile... here in London city...

Phil sees a shadow. Six more weeks of winter.

time to cook.... again