sp'daily3 - fib retrace
Trans
Summary
A marginally interesting start to the week, but still... we remain very close to recent historic highs.
The continued weakness in energy prices are bullish for almost every sector of the economy... the exception being energy!
WTIC Oil, monthly'2, rainbow
Today we broke a new multi-year low in the $62s. A bounce.. somewhere from the 60/55 zone looks a given... probably on the order of $10/15.. back to 70/75.. and then another wave lower to 50/35 zone... in latter part of 2015.
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Volatility picked up... but remains relatively low
The VIX settled higher by a very significant 22.2% @ 14.21 (intra high 14.67).
VIX'daily3
Closing update from Riley
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Looking ahead
Not much due tomorrow.. just wholesale trade data. The only thing of note this week are retail sales.. due on Thursday.
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Goodnight from London