Wednesday, 18 September 2013

10am update - opening minor chop

The main indexes open with minor chop. Importantly, the sp' is holding under the key 1709 high. Precious metals are weak, with Gold -$13. Oil is 0.4% higher, ahead of the usual oil report at 10.30am. VIX is similarly seeing minor chop, now fractionally lower.



Market looks set to remain within a holding pattern until 2pm.

Absolutely no reason why sp' will break >1709 before then..or similarly,  <1700.

Notable movers so far..AAPL, FB. The hysteria stocks are really only ones seeing any action.

AAPL, daily

Not exactly so bullish now, despite the recent Golden Cross. A death cross - viable no earlier than October, would be kinda interesting.

*I remain on the sidelines, until at least 2.15pm..if not tomorrow.