Thursday, 20 November 2014

10am update - opening weakness

US equities open moderately lower, with a marginal break of the daily 10MA of sp'2041. VIX is on the rise, but so far.. failing to show any real kick.. +4% in the mid 14s. Metals are holding rather strong gains, Gold +$10... which is naturally helping the miners.


GLD, daily


*awaiting trio of econ-data at 10am.

If you assume sp'2056 was a short term high, first target is 2000... and then the 50dma.. which for the next few weeks will be in the 1980s...

Hence.. my primary zone is a slightly revised 2000/1980.

As noted last evening... I just can't see much of a sig' drop before year end. 

10.01am... Whats up with the VIX ?

Is the CBOE broken or something?

Phil Fed 40.8 ... vs 18 expected.... BIZARRELY high.... misprint?

time to shop... back soon!

10.30am... Indexes back to largely flat.... tedious.. urghh.

BABA.. $10bn bond sale.... stock flips +1.8%... back to $110...