Tuesday, 30 July 2013

11am update - market wants to battle higher

Despite the weakness out there - apparent across the last two weeks, the market still looks set to go a little higher. Metals remain weak, along with Oil -1.1%. A 'brief' move into the sp'1700s still looks viable on FOMC Wednesday.



Not much to add, its a relatively quiet morning, but pressure still seems to be on the upside.

After all, bears are only able to ever manage moderate declines before the market battles back.

VIX is now red..although the 11s now seem unlikely, even if low sp'1700s.

FB continues on its quest to claw back to the IPO $38 level.

Arguably a hysteria stock, to be left alone, and merely watched for entertainment purposes.