Wednesday, 2 December 2015

3pm update - increasingly weak

US equity indexes are significantly lower, as market mood is increasingly spooked, as WTIC Oil failed to hold the key $40 threshold, currently -4.0% in the $39s. VIX has jumped 11%... but remains relatively low in the 16s. The big 20 threshold looks well out of range.




*the ongoing story about some incident in San Bernadino is clearly setting the mood for the closing hour.

Clearly, a second daily close in the sp'2100s is well out of range.

Now its a case of whether Draghi can inspire tomorrow... and then if OPEC wants to support oil prices this Friday.

3.14pm.. sp'2077... to 82... hmm.  Overall market mood ain't pretty though...

notable weakness: copper miners, FCX/TCK, both lower by around -5.6%... as commodities are under USD pressure.

strength: CREE +2.0%.. but more on that one.. after the close.

DIS -1.2%... following the broader market.

3.29pm.. Gold -$15... having broken a new multi-year low of $1049.. but hey.. does anyone else notice?

Oil is trying to recover from the lows, but still -3.4%... around the $40 threshold.

3.41pm.. Transports remains very weak.. despite the lower energy/fuel prices...

Not bullish. The weekly close will be rather important.

3.45pm.. chop.. around sp'2080... with VIX 16s.

In the scheme of things...its only borderline interesting... aside from the Transports.

back at the close.