Wednesday 23 April 2014

2pm update - continued minor chop

US indexes continue to see very minor price chop - ahead of AAPL earnings after the close. Metals remain fractionally lower, whilst Oil is holding slight gains of 0.1%. The momo stocks are seeing some rather significant weakness.


sp'60min


Summary

A daily close in the 1860s still looks unlikely. There just isn't much downside power, well, except in the momo stocks.
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Notable weakness...

OPEN, daily


Major problems, with the floor just taken out. How about a table for two, with Puts for desert?

As it is, I've little in getting involved, not least after already picking up 3 positions this morning.


2.24pm. minor weak chop, hourly lower bollinger band..offering first support around 1865. Certainly, the 1850s look out of reach for the bears.

The VIX might close fractionally positive, but still, the 13s are the 'crushed' 13s.