Monday 22 July 2013

3pm update - sleepy closing hour

The main indexes are still trying to melt higher, and for those bears getting involved on the short side again...today is getting annoying. Precious metals holding strong gains, but Oil is now very weak, -1.3%.


sp'60min


Summary

Kinda quiet day still, and that merely allows the bots to rally it back on each micro down cycle.

For the bears..this is still no market to be meddling in...yet.
--

*earnings for the ultra-momo stock... NFLX at the close


The short-stops just got washed out ahead of earnings....$256 is a key level to watch, if broken..opens drop to $230

Market is looking for Q2 earnings of 40 cents of so.....which still gives a PE of 100.

Bargain huh?