The main indexes are already back to green, despite marginally breaking under the Tuesday lows. Even the precious metals are seeing a bounce, with Gold +$6. Oil is building gains, +0.9%. If the market likes the Fed beige book this afternoon, equity bears are going to be real annoyed.
So...we already have positive indexes, and no doubt those seeking the 1770s are getting annoyed. It really is just the same old problems. Underlying upside pressure, no doubt helped by another sig' QE this morning of 3-4bn
It is still early days for this new momo stock, but clearly, TWTR is so far managing to generally hold the low 40s. A break >50..that is another matter entirely.
11.37am.. touch of weakness..but the morning low should hold.
I realise some are looking for some sort of ABC... I'm calling for an X' to 1805/10..with another bit of chop.
Regardless, I see it all as just that...chop. No point in the short side..not on these type of minor moves.