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VIX, Oil, BRICS & Sterling's Sell-Appeal
BRICS equity indices fail at key fib retracements, VIX and oil near major trend lines and sterling's sell-appeal hasn't looked this good in a while.
Both OIL and USD to break their respective 50-day MAs ...68.24 & 79.11
annauel, ISM did trigger stock market rally BUT about 40 mins later combination of several rumours about Wells Fargo, Cerberus led to big selling. I do believe that technicals are taking over here. Also, the rise in ISM was prompted mainly by new orders component. I wrote all of this on my twitter btw. Intermarkets working like charm. Oil, stocks and yields all started to selloff, giving FX traders the obvious green signal to buy USD and YEN against eveythng else.
risky, thanks
Ashraf
sorry just kidding
API data are as follows: Crude -3.2M, Gasoline: -2.8M and Dist: +0.9M for who ever is interested.
too early to say what september will bring in stocks but vix up quite a bit and people panicing. if we get a pullback how sharp any ideas? will it be like the one we had summer time? i douvt we will get 20% + as no signs of any shocks coming about. best to be sidelined or short stocks and oil now anyway
"why should a sell-off occur when the ISM data are better than expected???"
Market rule #1: Buy on rumor...sell on news! :)
~66.80 is the answer to your question.
Spec, I'm no Qin...so please, respect. I'm not playing w/ my emotions. I'm letting my analysis, fingers & trades doing the playing. Bear in mind I told the Forum three things in the lasr 24 hours.
- OIl wouldn't go beyond 70.60 on rebound (it touched 70.64 before rescinding)
- Following this mark, put your shorts around 68.50 (currently it's 68.21)
- Footsie would take a beating (you yourself posted about my forecast in the morning)
The rest is history! What I am concerned about is if Smiler banked any profits...and Radu...I wish that guy took s/thing out of it. For Qin, yeah...I banked on all three trades above.
I'm still saying boys & girls...stay short until 62 (in steps, managinf risks, ofcourse) at least. There is money lying around. Bank it...