Tuesday, 21 October 2014

10am update - day four up

US equities continue on the climb from last Wed' low of sp'1820...  now higher by 5.1% across just 5 trading days. VIX is reflecting the calmer market, -9% in the 16s... almost cut in half. Metals are holding moderate gains, Gold +$6, whilst Oil is higher by 0.9%.




Suffice to say... bulls continue the rout, and the mainstream is getting back to overly confident.

Given another 4-5 days... this should be fully burnt out, at best 1950/60 zone, where there are many aspects of resistance.

Notable strength: Oil/gas drillers, RIG +2.4%, SDRL +5.0%

*I'm tired...back at 12pm