Monday, 29 February 2016

1pm update - minor gains

US equities are battling to hold minor gains, with the sp +4pts @ 1952. VIX remains broadly subdued, remaining under the key 20 threshold. If sp'2K or higher, the 16/15s look viable by mid March. Oil continues to help market sentiment, +2.5% in the $33s.




Seen on the daily charts, today is indeed very inconsequential.

Price action clearly favours the bulls, as the bears continue to look exhausted.

notable strength...

CNX +8%
SDRL +15%

.. but both of those remain as devastatingly low levels relative to summer 2014.

back at 2pm