Wednesday, 23 December 2015

11am update - sunshine for the equity bulls

US equities are comfortably holding broad gains, with the sp' set for a third net daily gain, probably settling within the 2055/60 zone. A daily close above the 50/200 day MA's looks far more viable next Monday. VIX is naturally in cooling mode, having already broken into the 15s.


USO' daily2


*the latest EIA report showed a net draw of -5.9 million barrels, and that is really helping the case for a short term bounce to $40.

So...a third day for the bulls, and again, I gotta ask.. where are all those maniacs who were touting crash/collapse last week? Where are they? Are they all on radio silent mode now?

No doubt, those same posters will re-appear in mid/late January..  whether the market is trading a little above.. or below sp'2134.

notable weakness...

DIS -2.2% in the $104s.. as comms stocks continue to unwind

NKE -1.8%.. a rather strong swing from opening gains.

TLT -1.0%...  appropriately relative to equities

Here in London city...

.. and that is the first decent bit of sunshine in what feels like a long... long time.

time to cook