Monday 7 October 2013

2pm update - still trying to battle upward

The market continues to attempt to battle back upward, with most indexes just 0.6% lower. VIX is still +10% in the mid 18s, which is certainly well above the average for the last few months. Metals remain holding almost all of the earlier gains, Gold +$12.


sp'60min


Summary

All things considered, it remains a very subdued market. The opening index declines have been cut in almost half.

As ever..the issue is whether we'll get a closing hour mini ramp...with the indexes closing almost green, which would make for a rather bullish daily floor-spike candle.

Considering the hourly MACD cycle, bulls have a chance of that.
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Notable strength.. AAPL, +$8 in the $491s