Tuesday 11 November 2014

Daily Wrap

US equities broke a trio of new historic index highs in the Trans, Dow, and sp'500. The hyper-ramp from the mid Oct' low continues, although a retrace is no doubt well overdue. VIX continued to melt lower, -3.7% @ 12.73.


sp'daily5


Trans


Summary

*most notable today - the Trans in the 9000s... and it would seem just a mattter of when.. not if... the Trans breaks through 10k.
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Volatility continues to get crushed

We've seen the VIX crushed from 31.06 to the low 12s across just 19 trading days... incredible.

VIX'daily3


A spike of some sig' degree still seems a given before year end... right now..  the 18/20 zone looks 'best equity bear case'.
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Closing update from Riley


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Looking ahead

Nothing is due tomorrow, market will be on semi-holiday mode.
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Goodnight from London