US equities are increasingly choppy as Fed official Fischer is set to appear in NYC. With Nat' gas -7.9% and WTIC Oil -6.4% in the $31s, the market mood is not exactly great. VIX is battling to hold very minor gains of 2% in the 20.60s.
*the earlier print of VIX 23.66 is to be dismissed as one of those kooky 'rogue prints'.
Well, its only day'1 of February, but its getting a little tedious. In many ways, this month should be about burning off the oversold technicals, before equity bears get their next chance of a multi-week down cycle.
I've not mentioned it yet, but it is notable that the upper bol' on the daily cycle is around sp'2007... later this week, it might be around 1980.
I continue to see sp'2K as a brick wall.
RIG -7%, SDRL -1%
BAC -2%... as GDP for Q4 is now downgraded to around 0.5%, and that lessens threat of rate hikes in the second half.
back at 2pm