Monday, 16 September 2013

10am update - back on the sidelines

The main indexes are holding gains of around 0.8%, but its not quite the hyper-bullish open that many were expecting. Those bulls seeking a strong close should be somewhat concerned with a VIX that is higher, +1.5% in the low 14s. Metals and Oil remain weak.




*I exited index-longs at the open, sp'1703. I will not be re-shorting the indexes today, regardless of any intra-day price action.

So...we're higher, but its actually looking a little weak out there.

Equity bears really need a VIX back in the 15s. above the declining daily 10MA before having any confidence of an FOMC upset.

Certainly, we have a very interesting week ahead!

AAPL is having problems... -$11...and has lost the 200 day MA

Bulls should be a little concerned with that.

10.26am.. no power on the bear rallies back after micro down-cycle. VIX set to turn red.

Looks like anyone shorting the open is about to get nailed.