Thursday, 4 February 2016

12pm update - moderate weakness

US equities are seeing renewed weakness having cooled from a morning high of sp'1927, as the market is set to churn ahead of the monthly jobs data. USD remains broadly weak, -0.6% in the DXY 96.60s. That is clearly helping the metals, Gold +$11. Oil remains very unstable, -0.8%.




Not much to add.

I realise some are getting twitchy to launch a market re-short, but the big daily/weekly cycles are still offering a break above the Monday high of sp'1947.

It won't take much to hit the 1950/60s next Yellen will probably try to placate the market with talk that the economy is still growing, and that the Fed has everything under control.

Maybe she'll even issue a threats of 'renewed easing if conditions merit'.  Yeah... that'd give the market an excuse for a brief spike upward.

VIX update from Mr T.

time for lunch