Thursday 16 October 2014

12pm update - still vainly trying to rally

US equity indexes have clawed back almost all of the opening declines, but remain very choppy, and broadly weak. Latter day weakness seems highly probable, with a VIX - currently in the 25s, set to claw back into the low 30s.


sp'60min


Summary

*the recent wave is arguably a sub'4 ABC 'bounce'... nothing more... with a sub'5... probably down to 1815/00 sometime tomorrow.

Indeed, I'd look for Friday as a somewhat decisive turn, with net daily gains...maybe a close in the 1830/40s.
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So, we've even seen the sp' turn briefly higher to a high of 1867, but much like almost every day across the last few weeks, latter day weakness seems likely.

Notable gain: CHK, +14%, on an asset sale... although it does little to negate the collapse from the summer.


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VIX update from Mr T.


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time for lunch