Friday, 18 July 2014

3pm update - ending the week on a positive note

US indexes look set for minor opex chop into the weekend, having built rather significant gains across the day. Most notable, the sp'500 has come within just 0.3% of breaking a new historic high. VIX is at risk of a weekly close in the 11s.



...long week...not least after yesterday.

I realise for many... this is a dire end to the week. After all, everything seemed so lousy of sp'1940s, 30s...I even saw a few seeking the 1920s within 'a few days'.

Here we are.. with the 1990s viable next week, and a VIX that is once again crushed back down.

I sure didn't pick up a long-index block this morning - having failed to see a secondary down wave, but hey... at least I'm not short. There will be fair chance of a minor down wave on Monday, but that might be after a gap higher.

updates ...into the close...

3.14pm.. a weekly close in the low 1980s would be pretty spiteful to the bears, but then...when isn't the market that way?

VIX -16%... 12.20s.. and the 11s look likely in the closing minutes.

3.45pm.. minor chop continues..still a high chance they'll whack the VIX lower in the closing minutes.

back at the close.