Wednesday, 4 December 2013

10am update - opening drop, rally to come?

The indexes open a little lower - breaking yesterdays low, but overall, we're set to rally as the day progresses. Metals are bouncing, Gold +$6, Silver +1%. Oil is battling towards the big $100, +0.6%. With sig' QE today, bears face the usual problems.




Today should be pretty busy, especially with the Fed beige book this afternoon. Mr Market is going to be more than enough things to deal with today...

I'm certainly looking for a recovery across the day, and a positive daily close.

Notable movers:  TWTR +3%, TSLA -2.5%, GDX +1.8%

*metals/miners are generally weak though, and this latest bounce is likely just that..a bounce!

10.03am.. home data comes in rallying...naturally. ISM non-manu' though..missed.

QE money will be kicking in as the day progresses..lets see if the bull maniacs can claw into the sp'1800s by early afternoon.

10.21am.. bears facing real problems now.

Bearish engulfing candle on the VIX daily..confirming yesterdays black-fail...

Could be a nasty day for the bears, if market likes what the Fed beige book says later