Monday, 9 September 2013

11am update - the 50 day wall

The market is seeing significant resistance at the 50 day MA across multiple indexes, including the sp'500 @ 1666. Bears should fight hard for a red close in the 1640s, with VIX 17s. Indeed, despite the opening equity gains, VIX is already positive.


sp'daily5


vix'daily3


Summary

All things considered, so long as we close at least moderately red, I'll be very pleased with today.

*yes, the weekly charts are a problem right now, but..it could just be a brief temporary issue.