Wednesday, 6 November 2013

12pm update - minor chop

Equity indexes are pretty mixed. The Dow is +90pts, whilst the Nasdaq, Trans, and R2K are all moderately lower. Metals are starting to look weak, whilst Oil is building gains, +1.7%. Notable mover of the day remains TSLA, -$24 @ $152.


Dow, daily


It really is a bit of a mess today.

I think it is fair to say, without the QE (in a normal universe), we'd be seeing some rather significant declines today. Instead of declines though, we have a Dow index that is trying to break..and hold historic highs.

As I noted recently, I want to see Dow 15800s, to confirm 16k will be hit, and then 17k by next spring. So long as Dow 15k holds, equity bulls have nothing to worry about.

VIX update from Mr T.

time for lunch!