Wednesday, 14 May 2014

3pm update - minor weakness

The broader market remains a touch weak, but the trading range for most indexes exceptionally tight -  sp'1894/92 for much for the day. Metals managed to hold gains across the day, Gold +$11, with Silver +1.1%.



*despite the equity weakness, the VIX is only up 1%.

I remain utterly tired of the bearish chatter across the last few days..and indeed, weeks.

Where has that sentiment got any of the bears since the sp'1814 low?

*ohh, and yes, that is a small bull flag on the hourly chart, with the underlying MACD cycle arguably floored. 

back at the close