Monday 15 October 2012

10am update - weak opening

Good morning. Well, here we go again. Opening minor gains are failing to hold, and indexes are going red again. We remain in a clear down trend on the indexes.

The VIX is again muted though, showing no concern.


sp'60min



sp'daily5



vix'60min


Summary

The target has been 1420 - for some weeks now, and we sure are taking some considerable time to get there.

The worse aspect for the bears is the VIX, which just finds it difficult to move more than a few percent, even when the indexes are down 1%.

Metals and Oil are weak, with $ fractionally higher. Perhaps equities will play catch up to these two later in the day.

back at 12pm