Friday 13 September 2013

1pm update - afternoon melt?

The main indexes are holding moderate gains, with absolutely zero downside momentum. A close in the sp'1690s would especially clarify the outlook for next week - at least from a purely chart/technical perspective. VIX is naturally melting lower into the weekend.


sp'daily5


vix'daily3


Summary

*VIX looks set to close in the 13s, there is usually a late Friday 'whack the VIX lower into the weekend' event..not least when the market is this subdued.
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Not much to say...quiet day..with rather significant weekly equity gains.

The notion of breaking under the sp'1627 low...seems highly unlikely any time soon.

So, with 3 hrs to go, lets see if the bulls can spike it higher in late afternoon..into those 1690s.