Monday, 26 August 2013

10am update - minor chop

The main indexes open with a little chop, but there is a clear underlying bias to the upside. Metals/Oil remain flat, whilst the VIX is holding a small 1% gain, although if sp'1670s at the Monday close, will likely be in the 13s.



With very large QE both tomorrow and Wednesday, bears face a real problem in the first half of this week.

That should in theory allow the market to battle into the sp'1680s again. From there, I'm guessing we'll see some selling again.

For the moment, I'm still in no hurry to get involved.

Notable movers.. TSLA, +5%. I'm not sure whether that makes it more of a hysteria stock than FB or AMZN.