Thursday 30 October 2014

2pm update - recycled news story ramps equities

It would seem a two week old story from the Nikkei Asian Review has been reposted, causing a spike in stocks, making a new cycle high of sp'1996.. a mere 1.2% from breaking a new historic high. Crazy.... simply... crazy.


sp'15min


Summary

*see Zerohedge HERE
--

No doubt some bulls will claim this afternoons gains are due to 'real buyers'..but its clear... there is some truly suspect nonsense going on today.
-

Volatility is starting to slip again...

VIX'60min....


VIX in danger of breaking 13s.. if sp'2000s.
--

Frankly... this is getting damn annoying... not because we're higher.. but because of the reason we're higher.
--

2.10pm.... A crazy day in market land, with afternoon mini chaos.. due to the recycled news story on the Nikkei news wires.

A huge amount of short-stops are being hit... and it'd almost be surprising if we don't at least briefly break the giant 2000 threshold.

VIX battling to hold the 14s...
-

Notable weakness...  Oil, -1.2%
-

2.28pm... Its typical turn time of 2.30pm......

Market offering a short term top of sp'1999...


Crazy market...... today really is causing real problems.