Tuesday 14 October 2014

12pm update - down trend broken

US equities have broken the short term down trend, with a key floor of sp'1874. Equity bulls should be content with any daily close in the 1885/95 zone, anything above 1900 would merely be a bonus. VIX is naturally imploding, -12% in the 21s.


sp'60min


vix'daily3


Summary

Suffice to say...  we're now headed broadly higher... but a bounce it will be.. resulting in a critical lower high in late Oct/early November.

Lets see how excitable the mainstream will be when we're back in the 1925/50 zone. No doubt they'll soon be looking to new highs, the sp'2100s....

... oh how pleasing it will be to see the faces on clown finance TV, when this all unravels in the next wave.

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VIX update from Mr P.


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Time for lunch........ back at 2pm (I'm really struggling today.. sickly)