Wednesday 12 February 2014

10am update - seeking a rollover

US indexes open a touch higher, but the hourly index/VIX cycles look highly vulnerable to a minor retracement into the afternoon. Metals are fractionally lower, whilst there is significant strength in Oil, +1.3%.


sp'60min


sp'daily'5


Summary

We have an Interesting day ahead...

I'm most certainly seeking a rollover, down to sp'1810 by late afternoon, but with a bigger downside target of 1800/1790 by Friday.
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TWTR +3%,  UGAZ -3%   - clearly everything is back to front this morning.
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10.01am.. So...we've pushed 3pts to 1826...enough to trigger a few short-stops...

still seeking a reversal.   VIX battling to hold 14s.. -3.3% @ 14.02.


10.07am..market wants to rollover..after a 6 day ramp of 89pts. VIX green by 11am would be a good sign.


10.27am...slipping lower to 1820...but really, I'd like to see 1810 by afternoon, if not 1805.  Sub'1800 does not look viable until late tomorrow/early Friday.

VIX soon to turn green...upside to 16.50/17.00 by Friday..