Thursday, 30 August 2012

2pm update - declines..holding

The declines are at least holding. VIX remains clamouring onto gains of a mere 4%. It remains a very stable market, there is still no serious concern out there.

Considering the daily MACD cycle - as seen on most indexes, we're pretty low, it'll be real tough to break 1380 this cycle. I don't think it'll break.




I think a few are actually surprised we're dow-100pts right now. Its still only a 0.75% move though, and barely rates as 'moderate'.

As for tomorrow, its really hard to call, but clearly the immediate trend is highly suggestive of weakness down to around sp'1385/80 at some point tomorrow. That would make for a very natural low before the 3 day holiday.

*stock movers,  AAPL is fairly weak, breaking the daily 10MA. Coal miners are lousy..again.

Stay tuned