Monday, 17 December 2012

2pm update - now would be a good time

If the bears are going to control at least a few days of this week, they need to push this market lower into the close. A red index close is just about viable, but we'll need to see VIX break above the recent 17.50 high.





We are certainly 'some' weakness, but until we're back in the 1416s..or lower, I won't be pleased.

However, the daily chart is starting to look spiky, and if we can break below 1410 early tomorrow, then there is still good chance for 1390s..before Santa arrives.

Notable stocks of the day remain HPQ and BTU, both down around 3.5%

Another stinky coal company..that is probably about to get the hammer...

ANR is in a much worse state than BTU, first target would be $7.50