Monday, 8 September 2014

Closing Brief

A relatively quiet start to the week, with minor weak chop across much of the day, sp -6pts @ 2001 (intra low 1995). The two leaders - Trans/R2K, settled -0.3% and +0.2% respectively. Near term outlook is for broad continued upside to the sp'2030/50 zone.



Little to add.

The real action today was in the precious metals and Oil, both significantly lower. The former is adversely affecting the miners... the latter... really damaging some of the energy stocks - like CHK, RIG, and SDRL.

Meanwhile.... over at Mt. Doom (Iceland)

The Bardarbunga caldera continues to collapse... I don't think this is going to end well for NW Europe.

Bullish personal air filters?

more later... on the VIX