12pm update - Liesman and Lagarde

Whilst the capital markets continue to struggle to adjust to the massive policy change from the SNB.. its time for a little polite chit chat. Mr Market will no doubt take some interest in clown finance TV 'economics expert' Liesman... with IMF 'Managing Director' Lagarde.


sp'60min

GLD, daily

Summary

*Gold continues to rise on a strong 'fear bid', with a clear break above the mid Oct' high. I still can't take it seriously though. Still seeking renewed wave lower to $1000 by mid summer.
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So... settle back.. for some chat.... if you can stomach it.

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VIX update from Mr T.


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time for tea.... back at 1pm

11am update - the swings continue

It remains a real mess, with dynamic swings in just about everything. On a pure technical basis, the hourly equity cycle is set to turn positive within the hour... offering upside into the close. Yet.. all things considered.. the threat of another washout remains high.


sp'60min

USO, daily

Summary

*Oil is now -1.5%...having been +5%..... incredible swings...
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Frankly, I can only imagine the number of margin calls out there today. It will likely take some time for things to settle down.

Now the issue is 'the ECB sure as hell better not disappoint' next Thursday. If they do fail to 'inspire'... market is going to the end month badly... something that (importantly).. did not occur in October.
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Notable weakness, BAC, -3.0% on earnings.

BBRY -16.8%... after the 'there is no bid' issue


11.36am Looks like someone hit a sell program on the momo stocks... TWTR -4.3%.. along with most of the others.

10am update - wild opening

US equities - along with all other aspects of the capital market, are seeing very wild swings. The sp' has already swung from an opening high of 2021... to swing to 2001. Gold is holding sig' gains, +$29. Oil has swung from +5%... to +0.3%


sp'60min

vix'60min

Summary

A long day ahead.... strap IN !

VIX is threatening to explode into the mid/upper 20s.... along with a drop to sp'1965.
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10.16am.. sp -4pts @ 2006... still.... its wild swings out there today.... whipsaw hell.

Gold +$33... helping the miners.. GDX +4.9%... but I do NOT see a multi-year floor in yet. 


10.31am.. hourly MACD cycle set to turn positive.... things could be about to get real nuts... first target would be 2045...