Wednesday, 15 January 2014

12pm update - another set of new highs

Most of the US indexes have broken new highs, with sp'1850s..and a weekly close is very viable in the 1860s. VIX remains crushed...and looks set to remain low until the FOMC of Jan'29. Oil has built sizable gains of 2.0%, a key weekly turn might be taking place.


sp'60min


USO, weekly


Summary

What to say? New index highs..just another day in market land..and no doubt..the heavy amount of QE is helping negate what little sell side/profit taking there is.

Daily, weekly, monthly charts ALL offering the 1860s in the immediate term.

By mid February, monthly max upside will be around 1910/20. Great huh?
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*doesn't look like any lunch time VIX update from optionmonster. I think even they have realised there is not much to say on a VIX that is stuck between 13/11.
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Notable weakness: UAL, -2.5% (probably just cooling down from the recent gains). RIG, -1.4%, I've no idea on what is up with that. Any break <$47, and then 44/43.