Monday, 4 November 2013

3pm update - bears struggling.. as usual

The main indexes are holding moderate gains, and with the QE fuel continuing, equity bears just lack any downside power. Hourly index charts are offering a rollover (still), with downside to the sp'1730s within the next few days. Certainly, the notion of sub'1700s any time soon..seems next to impossible.



Well, the closing hour..of what has been a very subdued day.

However, we do have earnings at the close, most notable of course...TSLA. A stock that remains wrapped in hysteria...

take your pick..$200 in AH..or $130s?

Certainly, the immediate trend is UP...but are today's buyers about to get nuked?

3.09pm .  Trans +1.1%...7123...incredible. Remember when the 7000s seemed 'crazy talk' ?

3.38pm.. VIX 13.01....a close in the 12s would be another little victory for the bull maniacs. Weekly/monthly VIX charts are offering the 11/10s in the current multi-week cycle.

TSLA, holding 7% gains. @ 173.  Looking for some wild moves in AH, once earnings are out!

3.51pm... Trans/R2K indexes.. both gains of around 1.1%...disturbingly bullish. No doubt the TZA holders are having another bad day.