Thursday 11 February 2016

Daily Wrap

US equities closed moderately mixed, sp -0.3pts @ 1851 (intra high 1881). The two leaders - Trans/R2K, settled -0.2% and u/c respectively. The VIX settled -0.9% @ 26.29. Despite ongoing shaky price action, near term outlook remains unchanged, with probable further upside back above the sp'1900 threshold.


sp'daily5


VIX'daily3


Summary

A day of significant morning equity gains, but fading away to nothing by the close.

For the bulls, it could be far worse, with key support at 1834/12.

Best guess: renewed upside, back above the 1900 threshold, with the 1950/70 zone viable before end month.
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Update from Riley



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Market/Econ chatter from Schiff



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Looking ahead

Thursday will see the latest weekly jobs.

Yellen will once again appear, this time to the US senate, and that will also likely last until at least 12pm.
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Goodnight from London