Friday, 17 October 2014

12pm update - net weekly gains?

US indexes continues to battle higher, with the big sp'1900 threshold set to be tested. VIX continues to melt lower, -19% in the 20.20s. With the capital markets in a calmer mood, precious metals are weak, Gold -$6, whilst Oil is holding moderate gains of 0.6%.


sp'daily5


sp'weekly


Summary

*what is especially bizarre is seeing the weekly charts getting close to net weekly gains. The Trans/R2K already are.
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Well, its clearly getting rough now for those currently short.

Those who believe a key low has been set at sp'1820 should be seeking a straight run to 1920/50 zone.. although I realise, a fair few are completely giving up.. and looking for new historic highs before year end.

Considering the monthly cycles... I still can't agree with that, even with this latest run of almost 4% in just over two days.


VIX update from Mr T.


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time for tea.. or something sedative.