Thursday 5 September 2013

12pm update - VIX showing zero sign of concern

The main indexes are holding slight gains..a touch below key multiple-resistance. The VIX is -1%, and the market has seemingly zero concern for the coming days. Precious metals remain weak, Gold -$23. With the monthly jobs data tomorrow, bears face significant risk of further upside.


sp'daily4b



vix'daily3



Summary

Maybe its just me, but I'm starting to get real annoyed with this nonsense market.

Not only do the bulls now have the daily cycles about to go bullish, but the weekly charts are similarly starting to show initial signs of a turn.

Frankly, shorting ahead of  tomorrows jobs data seems overly risky..and right now..I'm going to sit it out until next week.

Yeah..next week. Urghh
--

The only 'decent' short-trade is arguably not until we hit 1680/85...with a stop somewhere in the 1690s.
--


VIX update from Mr R.



time for lunch


12.38pm.. looks like a bullish pennant on the 15min chart....should be seeing some upside into the afternoon.