Friday, 4 October 2013

10am update - morning chop

The main indexes are moderately higher, with the sp' making a play for the mid 1680s.  VIX is a touch lower, but still holding the mid 17s. Metals are very choppy, with Gold now -$7. Oil is holding gains of around 0.9%.




*Bears should look to keep the market under the declining hourly 10MA - currently 1681. Any failure, and the 1690s will be open.

A weekly close >1693, would see the weekly charts flip back to outright bullish.

A long day ahead...where we close..will probably be dependent upon any sporadic news headlines from the Obama/Boehner camps. No doubt, both sides will want to issue some kind of press release ahead of the weekend, if only to score a few more political points.


well, market breaks upward..and now the next level is 1690.

The Twitter IPO listing is giving clown TV something positive to focus on. Forget the debt ceiling, the only issue is how many Twitter shares can we get our hands on!

*If VIX breaks <17...equity bears are going to start looking stupid again, not least yours truly.