Wednesday, 13 April 2016

12pm update - R2K and Nasdaq following

The R2K and Nasdaq comp', have followed the sp'500/Dow, breaking new multi-month highs, and for now, there is absolutely zero sign of a turn. Next natural upside for the R2K is the 200dma in the 1130s, almost 1% higher and would arguably equate to sp'2085/90.. with VIX 12s for this Friday's opex.

R2K, daily

Nasdaq comp', daily


Little to add.

The market continues to build what are a second day of broad gains... as full confirmed in a VIX that is in implosion mode, -5% in the 13.90s.

*Fed beige book is due at 2pm.. but really.. that won't likely offer anything to those hoping for a turn/reversal.

time for some sun...