Monday, 7 March 2016

12pm update - not surprisingly positive

With powerless equity bears, US equity indexes have already turned marginally positive, and it seems just a matter of which day this week the sp'500 will be trading in the 2020s. VIX is +1% in the low 17s.. but looks vulnerable for a red close. Gold is +$5, with the miner ETF of GDX +3.6% in the $20.40s.



*it is notable that we're currently net higher for the fifth consecutive day, the best run since mid Dec'2014.

Little to add.

There is zero reason to see the market see any sig' weakness until the ECB this Thursday. That would be the valid excuse.

notable weakness, TVIX, daily

With the VIX remaining broadly subdued, TVIX is already negative, and the 5s look viable if sp'2030/40s, and VIX 14/13s.

time for tea