Friday, 16 October 2015

10am update - opening gains

The sp'500 breaks higher to 2030.. .with VIX flash-printing 15.56. With today being OPEX, there is little to expect other than increasing chop into the weekly close. The underlying pressure is increasingly to the upside, equity bears should have no hope until after the next FOMC.




Yes, there are some reversal candles.. but really..  nothing has changed.

Anyone getting overly bearish needs to go stare at a weekly index chart for a few hours...  along with the daily for the Shanghai comp'.

notable strength: GE +1.9%... is the company buying HEAVY its own stock this morning in the $28s?

weakness... Seagate (STX)... -6%

One of the finest tech hardware companies. Next technical support is $35.