Friday 15 August 2014

12pm update - market spooked

US equities remain somewhat spooked by news that Ukrainian artillery have fired on a Russian military convoy. VIX has swung from -2% to +13% into the low 14s. Metals are rebounding, Gold -$7.


sp'daily5


VIX'60min


Summary

Perhaps most notable right now.. we have bearish engulfing candles on most of the daily charts. Certainly, this mornings reversal does bode for further weakness next Monday.
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As things are... unless the news gets really scary across the weekend, it is merely another pull back to be buying.

*I will remain content on the sidelines across the weekend.
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VIX update from Mr P.


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time for tea


12.16pm.. chop chop...  but then.. it is opex.

So.. bears have managed a reversal...but how about the weekly close? As noted yesterday, bulls should be content with the 1940s... that'd still make for a net weekly gain.

Notable weakness: R2k, -1.0%.... almost a full 2% swing from 4hrs ago.