Thursday, 24 January 2013

10am update - morning churn

Mr Market is showing marginal gains, despite the hysteria - that is AAPL, falling 12%. Metals remain weak, with the $ a touch higher. The VIX is largely flat, still holding the lowly 12s.



AAPL, daily


So, as I expected, all those who got overly excited last night, hoping the main indexes would plunge was indeed majorly disappointed.

Its going to take a fair few days to turn this market lower, even if we somehow stopped today - which right now, shows NO sign of doing.

The one minor bearish aspect right now is the VIX daily..which appears as though its building a floor. That sure doesn't mean its going up..but its...something.

With Oil slipping lower yesterday, and the metals following today, maybe the indexes will follow tomorrow?