Tuesday, 25 November 2014

11am update - minor chop

Equities pull back from the opening highs, but price action remains generally muted. There is little reason to expect any dynamic moves this week.. not least anything to the downside. VIX is battling in the 12s. Oil has reversed.. from +0.4% to -0.7%

R2K, daily


The R2K remains a key index to watch. Yes, it is currently a touch red, but it did break into the 1190s earlier.. a mere 2% from new historic highs.

As I will keep saying... once a break into the 1220s.. it will bode strongly for the broader market across next year.

Notable weakness, oil/gas drillers, RIG/SDRL, both lower by around -1.3%... no doubt due to the morning reversal in Oil, now -0.7%

back at 12pm