Friday, 24 October 2014

11am update - chop chop

Equities remain choppy, with a likely daily close in the sp'1955/45 zone. VIX is a little higher, but looks set for a weekly close in the mid teens. Energy prices are weak, Nat' gas -2.2%, with Oil -1.8%.


USO, daily


Little to add... on what is likely to be 'chop into the weekend'.

*I realise some are seeking some kind of small B wave lower... and the 1910/00 zone would be a valid target.. but really, price momentum has been so strong this week, its hard to get any sustained downside.

Bears would arguably do well to just sit it out until next Wednesday afternoon, when we have the FOMC announcing the end of QE3... not so infinite after all, eh?

Notable weakness, oil/gas drillers, RIG & SDRL, both lower by around -2.5%

time to cook