Friday 11 December 2015

11am update - battling for a floor

The sp'500 is battling to solidify a floor of 2021, which is close enough to count as a test of the Nov'16th low of 2019. VIX has so far maxed out at 21.87. Oil remains very weak, currently -1.3%.. having broken a new low of $35.78, as many analysts continue to seek the $32s.


sp'60min



VIX'60min


Summary

Well, it sure ain't pretty... as we're another day closer to the fed raising rates.

On balance, this is still very likely just the market washing itself out, before a multi-week up cycle into 2016. I realise though, some of you are seeking a break <2K, with a major upset into year end, via 'credit market' problems.

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notable weakness...

AAPL, -1.7%


.. but so far.. holding just above rising support. If the main market does ramp after the FOMC, then the $130 threshold remains a very valid target.
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Meanwhile... here in London city...


Pure... grey horror, very much matching the market mood.
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time to cook