Thursday, 26 September 2013

2pm update - minor chop

The market seems to have given up on picking a clear direction, and looks set to close somewhere in the sp'1690s. VIX reflects a market with little concern, +1% in the 14.10s. Precious metals are on the slide, Gold -$10, whilst Oil is holding moderate gains of 0.5%


sp'60min


Summary

Arguably, both bulls and bears can be disappointed in today, which is turning out to be a somewhat muted afternoon.

I see a few people are still expecting a break lower into the 1670/60s, but the issue with that is, if that occurs, then the bigger weekly charts will be rolling over.

Notable movers, STX, -2%, NFLX/FB, both +2%. 
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