Wednesday, 2 December 2015

2pm update - remaining weak

US equity indexes remain moderately weak, but highly vulnerable to renewed upside to the 2115/20 zone before the weekend. Equity bulls have two excuses for another wave higher, the ECB (Thursday), and the monthly jobs data (Friday). Oil remains very weak, -3.8%, close to the key $40.00 threshold.




Not much to add.

Equities are arguably just seeing a day of consolidation ahead of the next push higher.

notable strength:

NFLX, daily

A new historic high in the $130s. Jessica Jones was a superb series, although even I don't believe it merits a P/E ratio well into the 100s.

2.19pm.. With Oil losing the $40 threshold...  equities continue to slowly unravel, sp -17pts @ 2084.

Next support is the recent low of 2080. A daily close in the 2070s would be a real surprise.

VIX +8%.. but still only in the 15s.