Friday, April 26, 2013

Geomagnetic Storm

2013/04/26 08:42:17 SANSA - Cape Town  
CURRENT CONDITIONS:  Solar activity is at moderate levels with C-class flare in progress. Several C-class flares have been detected. Background X-ray flux at upper B-class levels. Geomagnetic conditions are at unsettled levels due to coronal hole high speed stream. Local HF working frequencies are slightly elevated compared to monthly average predicted values. EVENTS: Several C-class flares from active region 1726. OUTLOOK: Active region 1726 has a complex magnetic configuration which may produce M- or X-class solar flares. Signal fading is expected for the next 24 hrs due to flaring activity from active region 1726. The high speed solar wind stream from a coronal hole could cause unsettled geomagnetic conditions for the next 2 days.  
Impact on Financial Markets: Unusually high levels of geomagnetic activity (= KP Index > 4) have a negative, statistically and economically significant effect on the following 5-7 calendar days’ returns for all US stock market indices (HERE & HERE & HERE & HERE).