Thursday, 11 February 2016

Daily Wrap

US equities closed moderately mixed, sp -0.3pts @ 1851 (intra high 1881). The two leaders - Trans/R2K, settled -0.2% and u/c respectively. The VIX settled -0.9% @ 26.29. Despite ongoing shaky price action, near term outlook remains unchanged, with probable further upside back above the sp'1900 threshold.




A day of significant morning equity gains, but fading away to nothing by the close.

For the bulls, it could be far worse, with key support at 1834/12.

Best guess: renewed upside, back above the 1900 threshold, with the 1950/70 zone viable before end month.

Update from Riley


Market/Econ chatter from Schiff

Looking ahead

Thursday will see the latest weekly jobs.

Yellen will once again appear, this time to the US senate, and that will also likely last until at least 12pm.

Goodnight from London