Tuesday, 24 November 2015

3pm update - a floor of 2070

Regardless of the exact close, it would seem the market has put in another higher low @ sp'2070.. with VIX having maxed out at 17.21. The sp'2100s look due.. whether tomorrow, Friday... or next week. Oil is holding sig' gains of 2.4% in the upper $42s... ahead of the next inventory reports.




*I only noticed it earlier, but the VIX effectively maxed out around declining resistance/trend. Sub-teens look due... although I am very open to a test of the 20 threshold before year end.. and that does not exclude my year end target of sp'2150/70.

So..  a little chop in the 2pm hour... with news of another hostage situation in northern France.

Anyone still think we'll see sustained trading under sp'2060 in the remainder of the year?

If we break >2134 - which seems VERY likely, you can arguably add another 5% to that.. so that gives us the 2240/60s in Jan/Feb... before the next moderate retrace.

back at the close... unless something dramatic happens