Monday 22 October 2012

2pm update - underlying weakness

The market is showing its underlying weakness, and we're slipping away very nicely now. The Nasdaq Comp' has lost the big 3000 level, weekly charts suggest a move to at least 2875 or so - which would equate to sp'1400.


sp'daily5


Summary

Looking on track for a test of the sp'1397 low in the next day or so.

VIX +5%...slowly picking up a little.

back at 3pm