Friday, 18 March 2016

12pm update - weekly gains and declines

US equities continue to hold moderate gains. Regardless of any choppy cooling into the quad-opex close, all US equity indexes are set for another weekly net gain. VIX is natural set for a fifth consecutive net weekly decline. Cyclically, we're unquestionably very close to a turn.




Little to add.

Today is behaving largely as expected, particularly the VIX, which looks in classic pre-weekend melt mode.

For the moment, there still seems little reason to get involved on the short side, not least as Oil looks set for 44/45s next week.

It is notable that there are just 8 full trading days left of the month. If we're in the sp'2060/80 zone next week, it is going to be a race just to break back under the 2K threshold.

Here in London city...

Not a great day to conclude the week, but still.. another day closer to spring.

time for lunch