Tuesday, 12 March 2013

3pm update - melt into the close?

The sp is -6pts @ 1549. The bears are merely being teased. There is no reason to believe this is the start of anything significant. VIX is holding gains of 11%, but we're still only talking about VIX 12s. Dollar is flat, Oil and Silver remain higher, but lacking any real power.


sp'60min


Summary

There is - as always, going to be some upward pressure into the close.
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*I'm content to sit it out overnight. No positions, will consider re-long SLV and USO in the morning.

back after the close