Tuesday 2 December 2014

3pm update - tiresome.. again

US equities are seeing another micro jump (for whatever spurious reason)... with the sp'500 a mere 7pts (0.3%) breaking a new historic high. VIX remains crushed, -9.7%.. having lost the 13s. Metals remain weak, Gold -$13


sp'15min


VIX'60min


Summary

Well, maybe we'll get another wave lower tomorrow, but regardless, today has been just another disappointing day for those in bear land.
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Notable strength: BAC, +2.0%, and I'll very likely be referring to that one a great deal across next year.

Weakness.. the miner ETF of GDX -3.8%... naturally.. with the metals back on the slide.
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3.28pm. .. a touch of weakness.. we ARE still due to rollover, but really, the waiting is real tedious.

*a lot of things are due tomorrow, not least ADP jobs and Fed beige book, but more on that.. after the close.

Oil -3.2%.... sub $60 by year end... very viable.. before the first decent chance of a $15/20 bounce.