Wednesday, 21 August 2013

Closing Brief

The main indexes closed lower, with the sp -9pts @ 1642. The bulls were unable to hold the secondary reaction to the fed minutes..having peaked at sp'1656. Metals and Oil both closed lower, whilst the VIX was +6%. USD was naturally stronger, +0.5%



Fun huh?

The market was significantly affected by the FOMC minutes, and a few whipsaws have really left many confused.

Yet, the bigger picture is clear from the weekly it has been for the last 3 weeks. Market can not cope with the notion of less QE, and a return to the sp'1500s is a given.

*I remain largely tired of this market (which is putting it politely), I will again consider a long..if sp'1635 tomorrow. I will NOT consider any shorts, unless sp'1680s.

bits and pieces across the evening...