The early signs of a reversal are being confirmed, as most indexes are in the process of turning red. VIX is reflecting the move, set to turn green. A daily close in the sp'2025/20 zone.. with VIX 21s looks very viable. Metals are catching a minor fear bid.. Gold -$2.. with Silver +0.1%
sp'60min
VIX'60min
Summary
*early lunch was good... I'm fuelled up for what could be a very entertaining afternoon.
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R2K is -0.4%... leading the way.. with the 'old leader' Trans.. set to follow.
Oil -3.2% is not helping the market, and after Citi called for Oil $20s... for those trying to catch the falling knife of energy stocks.... the next few months could be especially tough.
Indeed.. notable weakness. RIG -8%, after a downgrade by Credit Suisse. SDRL -5.5%.. in sympathy.
11.29am.. renewed strength... but seriously.. who the hell wants to buy the sp'2050s right now? Well yes... the BoJ... but who else?
Oil continues to slide... now -4.0%