Wednesday, 1 October 2014

Closing Brief

US equities saw some significant declines, sp -26pts @ 1946. The two leaders - Trans/R2K, settled -2.5% and -1.5% respectively. With this latest down wave, the door re-opens to a target zone of sp'1920/00. The one anomaly remains a relatively subdued VIX.



Firstly, congrats to anyone on the short side today... frankly, I'm delighted to see the declines.

Price action is pretty bearish, and there was a complete absence of the 'buy the dip' people today.

The one anomaly remains the VIX, which only managed gains of 2% in the mid 16s... kinda odd.

*I am on the sidelines..the only decent long would seemingly be from around sp'1920/00 zone.

more later... on the VIX