Friday 27 September 2013

2pm update - quiet afternoon

The main indexes are still moderately lower. Most notable, the VIX is quietly melting higher - +7.8% in the 15.10s, due to increased uncertainty about whether there will be a US Govt' shutdown. Equity bulls should be content with any weekly close in the 1690s.


sp'60min


Summary

*I've been updating my chartists/blog links. I'm always looking for new sites to add, let me know if you know of any other good ones! I especially like to highlight the little/starter blogs, rather than the huge sites like Zerohedge or Slope of Hope, which we certainly are already aware of!
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As for the market..its turning into a very quiet end to the week. Yes, there is weakness out there, and yes there is uncertainty over the US govt' funding/shutdown issue..yet..despite a break into the sp'1680s earlier..the primary weekly trends remain bullish.
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To me..the whole situation is starting to smell just like late Dec'2012...and we know how that turned out. The difference between now and then?

Ohh yeah, around 300pts on the sp'500.  Urghh