Wednesday 29 August 2012

12pm update - still minor noise

Pretty dull isn't it? A few pts up..a few pts down. Perhaps..the dullest trading month in a few years. I look forward to September, it can't be any less exciting than this.


sp'daily3, rainbow, news






VIX, daily



Summary

Sp'1350 is clearly an obvious target level for the bears, yet that looks a long way down. I been endlessly mentioning 'need 1340s' for weeks now, and nothing has changed in that respect.

With Labor day next Monday (US market shut!), once Benny is outta the way late Friday morning, it might be worth just turning it all off then.

VIX is up a little, but it'll be really difficult to break over 18 - a key level on the weekly cycle..

*metals and oil remain weak, but so far, its only a minor fall.

back at '2pm