Tuesday 16 December 2014

3pm update - chop into the close

US equities remain very choppy, with the market set for a daily close in the sp'1985/2000 zone. VIX remains relatively quiet, +6% in the upper 21s. Metals are weak, Gold +$4, whilst Silver is -2.4%. Oil remains very unstable, +0.9%.. some 2% below the earlier high.


sp'60min


GLD, daily


Summary

Well, its been one hell of a day... and tomorrow looks likely to be almost as exciting.. with the FOMC.
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What should be absolutely clear... once the Fed is out of the way.. the market has a clear run into January.
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Notable weakness: retail, AMZN -3.2%, HD -2.2%