Friday 23 January 2015

12pm update - mixed minor chop

US equities are moderately mixed, with a viable retrace low of sp'2052. A weekly close in the 2065/75 zone is still viable... along with VIX 15s. Metals remain weak, Gold -$14, whilst Oil is -0.7%. USD has cooled a little, but is still higher by 0.5%


sp'60min


R2K, daily


Summary

*notable gains in the second market leader - the R2K
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There really isn't much to add. Underlying pressure - seen better on the daily/weekly cycles, remains to the upside.. and market should be trading in the sp'2100s within a week or two.

Certainly, it seems utterly crazy for anyone trying to capture any minor down cycles along the way.

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VIX update from Mr T


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time for tea... back at 2pm