Tuesday 5 November 2013

2pm update - another chance into the close

The main indexes are mixed, with the Nasdaq a touch higher, with the Dow -11pts - having earlier -112. Even a close in the 1755/50 zone looks..difficult. Metals remain weak..causing problems for the miners. Oil is relentlessly lower, -1.2%, and back to the lows of June.


sp'60min



Summary

I still have to guess Mr Market wants to at least trade a little lower, but really..any down move is arguably untradeable in such conditions.
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Best guess. a close in the 1757/53 zone.
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More interestingly...TSLA earnings at the close (and I realise I incorrectly said that yesterday, urghh).


I still think this nonsense is vulnerable to $110/100, not least with momo stocks like NFLX and FB both seeing huge downside reversals after initial gains.