Tuesday 25 February 2014

12pm update - continuing on track

The early morning decline in the indexes has been fully reversed, and the equity bulls look set for a record daily close in the sp'1855/65 zone. Metals have similarly turned, with Gold +$4. VIX has naturally flipped red, and looks set for a daily close in the 13s.


sp'daily5


Summary

*a lot of particularly dynamic moves in a fair few stocks..it is hard to decide which to highlight!
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The style of price action is everything.and it remains unchanged. Broadly to the upside..and what retracements there are...are tiny..and oh so brief.

That doesn't look likely to change until the next FOMC of March'19.
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Notable mover: TSLA


Pure hysteria driven, shorts getting utterly nuked.
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VIX update from Mr T.


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time for tea :)
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12.00pm... a nano pull back to 1847...call it a nano' 2/B wave..or whatever you like, the near term floor remains 1840.


12.30pm.. market holding 1847...we'll surely be back in the 1850s this afternoon.

Lots of interesting action going on, I've not even mentioned Macys (M), which posted good results..not least with the increased margins...very odd for retail.