Friday 19 April 2013

3pm update - closing hour chop to 1550

Market is flat lining into a quiet closing hour. Market makers look set to try to pin the market at sp'1550, although it will be tough for AAPL to hit the key $400 level. VIX is still -12%, and will probably melt lower into the close.


sp'60min



vix'60min


Summary

Just one hour left, of what has been a rather interesting week. Next week will be when the real excitement looks set to begin.

*as for the ABC waves on the current wave'2. Impossible to know where those should be placed. We'll only see it clearly - in retrospect by Tuesday.

Well...lets see if those marker makers can pin sp'1550...with AAPL $400

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USO'60min


Forming a wide B' wave into Monday? The 32s still look likely.
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3.20pm.. well, clearly AAPL is not going to $400, maybe the MMs want it at 390?

Anyway, sp' still looks set to close around the 1550s..so,  that leaves just over 20pts across next Mon/Tuesday.

3.39pm...bulls manage a new daily high of 1555, urghh, that has to be annoying for those still short. VIX getting ground down..a close in the 14s would a major achievement, considering it was in the 18s just 7 trading hours ago!