Thursday 13 March 2014

10am update - morning gains

US equities open with minor gains, but look set to build upon them...probably all the way into the middle of next week. Metals are seeing minor chop, Gold -$1. VIX is in melt mode, -1% in the low 14s.


sp'60min


sp'daily5


Summary

So..we're a little higher, nothing significant, but hey..we're barely 0.5% from breaking new historic highs
-

Hourly MACD cycle is offering upside into the weekend..if not also next week.
-

With earnings out of the way, the maniacs are again buying PLUG, +18% in the low $8s, but still. the 11s are a further 40% higher. Oh well....if nothing else..it offers free entertainment.


10.29am..minor weak chop..but still..with the QE..bears face the same old problem.

Notable weakness: RIG, -1.7% in the $39s..the lowest level since summer 2012 - when the sp' was 1266.