VIX'60min
VIX'daily3
VIX'weekly
Summary
There is little to add. The VIX remains very low..and at best..might spike into the mid teens in mid December.
I see zero chance of the VIX >20 until late Jan/Feb.
--
more later...on the indexes
Friday, 22 November 2013
Volatility melts into the weekend
With the main indexes closing moderately higher, the VIX was naturally weak, and melted lower into the weekend, settling -3.2% @ 12.26. Near term outlook remains for the VIX to stay in a tight 13/11 range, before a minor spike to 15/16 in mid December. Across the week, the VIX gained +0.6%.
VIX'60min
VIX'daily3
VIX'weekly
Summary
There is little to add. The VIX remains very low..and at best..might spike into the mid teens in mid December.
I see zero chance of the VIX >20 until late Jan/Feb.
--
more later...on the indexes
VIX'60min
VIX'daily3
VIX'weekly
Summary
There is little to add. The VIX remains very low..and at best..might spike into the mid teens in mid December.
I see zero chance of the VIX >20 until late Jan/Feb.
--
more later...on the indexes
Closing Brief
The main indexes closed the week on a high, with the sp +8pts @ 1804. The two leaders - Trans/R2K, closed +0.3% and +0.5% respectively. Next week looks set for further moderate gains...somewhere in the 1810/20s. VIX continues to reflect a market that is utterly fearless of the future.
sp'60min
Summary
...and another weekly gain for the US indexes, the seventh consecutive gain.
--
No doubt many of the bears will be in a bad mood for another weekend..and I do sympathise..a little.
Yet..as I have been posting for the past few months, the big monthly charts are very clear. This is especially the case for the world equity indexes..all of which are still offering another 10/20% higher by late spring 2014.
--
It has been a 'useful' week for yours truly, I continue to leave the indexes to themselves...and will focus on specific stocks or commodities.
--
Have a good weekend everyone!
-
*weekend post will be on the US weekly indexes
sp'60min
Summary
...and another weekly gain for the US indexes, the seventh consecutive gain.
--
No doubt many of the bears will be in a bad mood for another weekend..and I do sympathise..a little.
Yet..as I have been posting for the past few months, the big monthly charts are very clear. This is especially the case for the world equity indexes..all of which are still offering another 10/20% higher by late spring 2014.
--
It has been a 'useful' week for yours truly, I continue to leave the indexes to themselves...and will focus on specific stocks or commodities.
--
Have a good weekend everyone!
-
*weekend post will be on the US weekly indexes
3pm update - new highs to end the week
The main indexes are ending the week, having broken new historic highs in the Dow, SP'500, and the R2K. There little reason to believe the current trend will not broadly continue for the remainder of the year. Metals remain weak, despite a USD, -0.5%.
sp'daily5
Dow, daily
Summary
I would never consider myself particularly adept at this 'chart nonsense', yet, what does bemuse me, is how AFTER a clear break of a six month sideways trend - seen in the Dow, we have people calling for a new significant wave lower.
Seriously? Are they even looking at ANY charts spanning the past 6-12 months?
-
As I noted many months ago...any close >15800..opens up 16k..if not also 17k.
..and that remains the target for late spring 2014... Dow 17000s, which probably equate to R2K in the 1300s, and SP' in the 1950/2050 zone.
It is at that point..I will be looking for an intermediate top.
-
3.08pm.. It is Queen cheer leader - Maria Bartiromo's last day on clown finance TV' 2 today. She is moving to FOX business..a channel I can't even receive. The horror!
Are we off the lows of the day yet?
-
Metals look weak....I'll be looking for a significant gap lower at the Monday open.
3.34pm...quiet chop to end the week. Regardless of the exact close...we've broken new index highs..and frankly, anyone touting anything bearish needs to be dismissed as plain crazy.
Even worse...if we see a major wave lower next year (as I still suspect), the uber-doomers are going to get their trading accounts nuked when the market rebounds in late 2014.
After all, you know Yellen wants to spin the money printers even faster >$100bn a month.
sp'daily5
Dow, daily
Summary
I would never consider myself particularly adept at this 'chart nonsense', yet, what does bemuse me, is how AFTER a clear break of a six month sideways trend - seen in the Dow, we have people calling for a new significant wave lower.
Seriously? Are they even looking at ANY charts spanning the past 6-12 months?
-
As I noted many months ago...any close >15800..opens up 16k..if not also 17k.
..and that remains the target for late spring 2014... Dow 17000s, which probably equate to R2K in the 1300s, and SP' in the 1950/2050 zone.
It is at that point..I will be looking for an intermediate top.
-
3.08pm.. It is Queen cheer leader - Maria Bartiromo's last day on clown finance TV' 2 today. She is moving to FOX business..a channel I can't even receive. The horror!
Are we off the lows of the day yet?
-
Metals look weak....I'll be looking for a significant gap lower at the Monday open.
3.34pm...quiet chop to end the week. Regardless of the exact close...we've broken new index highs..and frankly, anyone touting anything bearish needs to be dismissed as plain crazy.
Even worse...if we see a major wave lower next year (as I still suspect), the uber-doomers are going to get their trading accounts nuked when the market rebounds in late 2014.
After all, you know Yellen wants to spin the money printers even faster >$100bn a month.
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