Tuesday, 12 May 2015

10am update - opening weakness

US equities open lower, with the sp' offering an early floor of 2085. VIX has seen a jump into the low 15s, +7%... but viable to a negative close. With the moderate market concerns, metals have bounced, Gold +$8, but is highly vulnerable to turning lower.




*notable black-fail candle on the VIX...  equity bears... beware!

An interesting open, and it should be enough to have satisfied the algo-bots to wash out the weaker bulls.
notable strength: SDRL +3.8%... the higher oil prices are helping

*I am once again short Gold via GLD..  I might exit later today if GLD turns somewhat negative. In any case.. it should be a case of short every bounce until $1000 this summer.

10.10am. It increasingly looks like sp'2085 was an early low.. along with VIX 15s.

A latter day recovery is very probable, a net daily gain in the sp'2100s is on the menu, with VIX 13s.