Friday 24 January 2014

3pm update - bullish server reboots

Whilst the GOOG kick the Blogger web server, equities remain very weak. Most notable.. we have the first red candle on the rainbow weekly index charts since last August. The only issue now is whether we have a final lunge higher into the late spring..or....if the top is already in.


sp'weekly8


Summary

*sorry for the offline earlier, but hey..its not my server...
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So..a red candle..and we're sub sp'1800...headed for 1780/60.

See 2pm post (if you've not already seen it)....on the bigger issue.

updates into the close...server permitting ;)


3.02pm....VIX breaking higher....relentless


Surely the 20s not viable on an equity snap into the 1780s..by the close?


3.14pm...we're a mere 30pts from the FOMC taper-low, and now 53pts from the recent high.

Certainly..trend is with the bears...downside to 1780/60..with VIX 19/20.


3.27pm.. Trans -4%...biggest drop since summer 2011 (I think)..next support is 7000, around 3/4% lower.. equating to sp'1770/60.

3.31pm.. VIX +30% @ 18.00.... so..err...I guess taper'2 is off the table next Wednesday.


3.48pm... according to Cashin on CNBC, sell side 1.4bn to process....

could be looking at dow -325/350

3.51pm...despite the big selling...VIX is not going hyper...yet.


It's been one hell of a week....back at the close..to wrap things up.