Tuesday 6 August 2013

10am update - just another tease

The main indexes are moderately lower, but with two very significant QEs across today and Thursday, the bears will face persistent problems in managing a red close. Metals remain weak, with Gold -$20. Despite the index declines, VIX is only +3%.


sp'daily5


Summary

I suppose you could call this a sub'4 of 5 on the daily chart, but whatever it is, I find it hard to believe we won't claw back these opening declines.

Bears are very likely about to get a reminder of just what the QE-pomo is all about.
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notable movers so far today: MGM, +5% or so on earnings I believe.