Tuesday 4 March 2014

10am update - clearly everything is just fine

US indexes open significantly higher, with the R2K and sp'500 breaking a new historic high. Metals are lower, with Gold -$17. Despite the current gains, market remains highly vulnerable to any sporadic news reports from the Ukraine. Volatility most certainly is...here to stay.


sp'daily5


Summary

Suffice to say...despite the market gains, and the 'softening words' of Putin, I think the following video sums up how edgy the Ukrainian situation remains.



It will only take one soldier to go begin a massacre, and then the whole region goes hot in a matter of hours.
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As for the market...

Daily charts will be offering the sp'1890s by end of this week, so long as things remain 'contained' in the Ukraine.

VIX is getting the smack down...and yesterdays black candle is confirmed.


stay tuned...
-

10.17am..well, here come the sp'1870s.

Weekly charts have resistance in the 1875 area, but that is now rising each day..if slowly.