Tuesday 26 November 2013

10am update - awaiting further weakness

Good morning. The main indexes open a little higher, but baring a break >sp'1808, the market should be increasingly weak across the week. Metals open weak, with Gold -$6. The momo stocks are weak, with FB in the $43s..headed for $35.


sp'60min


FB, daily2


Summary

*notable weakness in FB, which looks headed for $35
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So..some minor chop to open the day...but Mr Market is not breaking new highs..and we're likely to get slip across the morning..if not the day.
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TSLA, daily


Just $7 away from the primary target of the 200 day MA. It will be interesting to see what reaction we get there. Or..do we just keep on falling to the secondary range of 70/60.
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10.10am... things get interesting on a break > VIX 13.50.


market weak...
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10.42am...no idea why..but FB snaps back  higher.. +1.5%..after -2.5%.  Fierce short-squeeze?