Tuesday 26 November 2013

12pm update - awaiting renewed weakness

The main indexes are a touch higher, with the sp' stuck below yesterdays new high of 1808. Equity bears have reasonable opportunity to sell the market a little lower this afternoon. Metals are weak, with Gold -$5. A VIX close in the 13s looks viable.


sp'60min


Summary

*good lunch time reading from Armstrong. Manipulating markets.
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It continues to be a somewhat sleepy trading day again..but hey..that was expected.  First downside target is the 50MA on the hourly.... 1797..that is certainly viable this afteroon.
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The notable action remains in the momo stocks like FB, TSLA, and TWTR. FB has seen a 4% swing already today. Pretty unstable, and no doubt, many short-stops got blown out in the morning.
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VIX update from Mr T.



Indeed, no one is buying near term volatility. The big players are gradually picking up spring time blocks..for the debt ceiling in Jan/Feb.

time for lunch!


12.23pm..nasty spike to sp;1806...bears in trouble again. A daily close >1808 would really be a spiteful close. Urghh.

..and that...is why I'm refraining from meddling in the indexes right now. Only another 4-6 months to wait. 

AAPL is making a play to take out the Oct' $536 high...very strong price structure..offering $600 by year end.