Monday 11 August 2014

12pm update - strong gains for the two leading indexes

Whilst the headline sp/dow indexes see moderate gains, there are notable significant gains in the Trans/R2K, both higher by around 1.4%. VIX is getting crushed as geo-pol concerns melt away, -12% in the 13s.


R2K, daily


VIX'daily3


Summary

*I exited an index-long at 1941... I won't complain if we keep clawing..to the 1950/60s.
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Not much to add right now. We're seeing some significant follow through from last Friday. VIX is certainly confirming the move...and with the Trans/R2K both significantly higher, there is little reason to believe sp'1904 will be broken for some weeks..maybe not until late October.
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VIX update from Mr T.



Indeed, few want to go long the VIX today. Its very possible we'll be back in the 11/10s, certainly if sp'1970s.
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time for tea.

12.23pm marginal break of short term up trend... still viable 1920s late today/early Tuesday.. before resuming higher.

I'll be a buyer if <sp'1930.