VIX'daily3
Summary
Little to add.
Equities look floored... VIX should merely continue to fall into the coming weekend... if not the next few weeks.
--
more later... on the indexes
Wednesday, 7 January 2015
Volatility starting to cool
With equities seemingly having put in a cycle floor of sp'1992...the VIX is starting to cool, settling -8.6% @ 19.31. Near term outlook offers broad 'melt lower' to the mid/low teens. If the market is in a much better mood by end January.. the 12/11s look viable.
VIX'daily3
Summary
Little to add.
Equities look floored... VIX should merely continue to fall into the coming weekend... if not the next few weeks.
--
more later... on the indexes
VIX'daily3
Summary
Little to add.
Equities look floored... VIX should merely continue to fall into the coming weekend... if not the next few weeks.
--
more later... on the indexes
Closing Brief
US equity indexes battled hard to hold somewhat significant net daily gains, sp +23pts @ 2025. The two leaders - Trans/R2K, settled higher by 0.7% and 1.3% respectively. Near term outlook is offering upside into the weekend. With a rather clear spike floor of sp'1992, the door to 1972/1960 appears to have closed.
sp'60min
Summary
An interesting day.. and certainly... the down cycle from sp'2093 appears to have concluded.
Now its a case of how high... and how quickly.
I'm well aware a fair few (not just the usual suspects) are seeking a move into the sp'2100s.. before a more significant down wave. Yet... why would the next down wave break any lower?
Broadly speaking, it remains a near relentless series of higher highs... and higher lows.
-
On a day when maniacs were shooting artists in France... I'll end with this bearish update... from Washington D.C.
Have a good evening
sp'60min
Summary
An interesting day.. and certainly... the down cycle from sp'2093 appears to have concluded.
Now its a case of how high... and how quickly.
I'm well aware a fair few (not just the usual suspects) are seeking a move into the sp'2100s.. before a more significant down wave. Yet... why would the next down wave break any lower?
Broadly speaking, it remains a near relentless series of higher highs... and higher lows.
-
On a day when maniacs were shooting artists in France... I'll end with this bearish update... from Washington D.C.
Have a good evening
3pm update - normal service resumes
The bears managed to knock the market from sp'2093 to 1992 across 6 trading days... another of those rather standard 5% retraces. It would seem highly probable new historic highs are due before month end. Meanwhile... Gold -$4, whilst Oil has rebuilt gains of 1.9%
sp'60min
Summary
Suffice to say... 5 consecutive net daily declines... and we're back to normal service.
Next big data point is the Friday jobs data... that will surely come in 'fine'... and be an excuse for a weekly close somewhere close to break even (sp'2058).
--
Notable strength: AA +2.1% (earnings next Tuesday)... one of my 'holy trinity for 2015'.
sp'60min
Summary
Suffice to say... 5 consecutive net daily declines... and we're back to normal service.
Next big data point is the Friday jobs data... that will surely come in 'fine'... and be an excuse for a weekly close somewhere close to break even (sp'2058).
--
Notable strength: AA +2.1% (earnings next Tuesday)... one of my 'holy trinity for 2015'.
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