Friday, 10 January 2014

3pm update - chop... into the weekend

Not surprisingly, the minor price chop continues, with the sp' stuck in the 1830/43 zone since Tuesday morning. Metals are holding gains, Gold +$16, whilst Oil has clawed a little higher, +0.3%. VIX looks likely to melt into the weekend...settling in the low 12s.




In terms of the indexes.. a pretty dull week, but hey..there has already been some interesting econ/corporate data this year, a fair bit of which suggest all is not well, especially in retail land.

There is little reason to expect a close anywhere above/below where we currently are. The smaller index cycles are mixed.

..can we close now please?


3.29pm.. a micro ramp to sp' doubt annoying those on the short-side. I'd be surprised if we break >1843. Regardless...broader trend sure ain't it?

3.42pm.. VIX in danger of a weekly close in the 11s...look for the hammer to appear at usually does on a Friday.