Wednesday, 17 February 2016

3pm update - 120pts across 21 trading hours

The sp'500 has rallied 120pts (6.6%) across the past 21 trading hours, with the VIX cooling from 30 to the 22s. Current price momentum remains powerfully bullish, with the hourly cycle now offering the 1945/55 zone tomorrow.. with VIX 21/20s.




*VIX is again trying to break the down trend... need 23s to offer any chance of a minor retrace/bounce tomorrow.

In terms of upside power, this is the strongest up wave since early October.

There will be VERY strong resistance around 1950/65.. and I currently intend to launch an initial short around there... but after this Friday's opex.

notable movers...

CNX  +15%, even the last of the great coal miners is catching a bid today.
FCX +13%, rife with debt problems... but for today.. its soaring

NFLX +5%, as the momo chasers temporarily re-appear.
TSLA +8%, as talk of model X increases

TVIX -8%... as the VIX continues to broadly cool

back at the close