Wednesday, 27 April 2016

10am update - opening chop

US equities open in minor chop mode.. and that will likely remain the case into the 2pm FOMC announcement. From there.. things will no doubt get rather dynamic. First downside target remains the gap zone of sp'2065/61.. along with VIX 15/16s.




*awaiting EIA report at 10.30am.

Well.. we've four hours of likely micro chop for the broader market.

For now.. there is little to add.

notable weakness.... AAPL, daily

An ugly gap lower... and there really isn't any support until the 92/90 zone. If you are of the mindset that the market is going to FAIL to break new highs... then the first core target should be $70.

I realise for now.. anyone in the mainstream would consider that 'crazy talk'.

Hell.. maybe Gartman will go MAX margin long AAPL this morning?

stay tuned... we have an exciting afternoon ahead!