Thursday, 15 August 2013

1pm update - choppy, but pressure is up

The main indexes have seemingly formed a pre-opex floor of sp'1659. A gap fill of the opening drop - sp'1680 looks an easy target for the bulls into Friday. Precious metals are strong, with Gold +$15, on the edge of a breakout >$1350. Oil is similarly picking up.




A pretty straight forward gap to fill in the 1680 area..for late today/tomorrow.

An index re-short in the 1685/95 area is the target for late tomorrow.

VIX update from Mr T.

stay tuned

1.19pm.. market just testing the earlier floor of 1659.

I'd be somewhat surprised if we get another 5/10pts lower. Oh well, I won't be going long, not with the break of 1675. Default trade is short into mid Sept.