Wednesday 27 May 2015

3pm update - weakness into the close

US equities are holding moderate gains, but look vulnerable to cooling into the close, although a net daily gain looks a given. USD is set for the sixth net daily gain of the last seven days... in the DXY 97s. Metals remain a touch weak, Gold -$1, with Silver -0.5%.


sp'60min



VIX'60min


Summary

*viable micro spike top of sp'2123
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For the equity bears.. a rather tedious bounce day after the sig' Tuesday declines. As is often the case, the bounces almost entirely negate the original decline.

Regardless of the exact close... Thursday looks in favour of the bears. Since the downside target is 2080/75.. that is likely to take more than a day... which would take us into late Friday morning.
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notable weakness, energy stocks, CHK -0.5%.. as Oil -1.3% in the $58s
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3.12pm.. This is helping give the tech' an extra kick into the close...

BRCM, daily


Broadcom set to be taken over...  all the semi-cond' stocks jumping... even giants like INTC +2.2%
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3.22pm.. Well.. we have a gap fill at sp'2125... there is nothing left now until the recent historic high of 2134.


3.37pm.. Is it asking too much to at least close no higher than 2122 ?

VIX is offering a floor of 13.05... just to get to mid 15s will take a 20% ramp.... and that won't be easy.

Market needs some 'spooky news' tomorrow....