Monday, 22 April 2013

10am update - opening gains fail

Market opened a little higher, but we're seeing those gains fail, with the indexes now red. Precious metals and Oil are still higher, but even they are well below their pre-market highs. Seeking renewed strength late in the day, with sp'1570s by late Tuesday.




Looks like an A' wave is done. B could take rest of today, not that I expect a close <1550. With a C wave complete by late Tuesday. I suppose it could drag into early Wednesday.

VIX was the tell at the open, whilst the indexes opened higher, VIX was only a fraction lower, rather than a typical -5% or so.

*I remain sitting back until Tuesday.

UPDATE 10.15am.. a little flash lower in the GOOG.

There were trades going through at those levels...ugly for the ones who kicked, only to see it jump back up.

10.43am..baring a break of the 1536 low, we're still headed for those 1570s.

Bears..need to remain patient and not get over excited what is probably a B' wave lower.