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.




*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.

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.