Friday, 7 December 2012

2pm update - on the edge

The market is still in a slow motion slug fest, trying to find a direction. The bulls could understandably be a little disappointed at the failed opening gains, after the 'better than everyone expected' jobs data. Clearly, the underlying weakness is still there.




VIX is again failing to spike higher, but..there is still time. So long as it doesn't break the morning low of 16.65, bears shouldn't be overly concerned.

Meanwhile, the stock that could never fall, is a mere 41 cents from a death cross. Target in the days and weeks somewhere in the mid 400s.

With two hours to go, lets see if we can see a surprise (at least to the mainstream) close <sp'1400.