12pm update - market remains weak

Despite the current index gains, the market remains relatively weak, with the sp' unable to clear 1656. Precious metals and Oil both holding moderate gains, whilst the USD is +0.3% @ 81.46 - sub 80s look unlikely. VIX -5%


sp'60min

Summary

A somewhat quiet morning - relative to yesterday afternoon!

I don't see why anyone would want to be getting involved right now. Serious risk of a small sell off into early Friday - the 1635/25 zone remains a pretty viable target.

What I am keeping in mind, is that Friday will see some sig' QE, and Yellen..will be speaking at Jackson Hole. That's two excuses for the market to ramp..but not before another low.

Anyway, I'm not getting involved. 


VIX update from Mr T.



time for lunch!