Friday, 27 December 2013

12pm update - choppy end to the week

Equities are seeing continued minor chop, with particular weakness in some of the bubble/momo stocks like FB and TWTR. Metals are look weak, despite minor gains, Gold +$4. Shippers cooling off after early highs, DRYS -0.5% in the $4.60s. VIX is fractionally higher, but set to close red.




Clearly, there is some resistance in the low sp'1840s..against the big channel..yet, I'm guessing that will be broken over next week.

The hourly MACD cycle is already kinda low, and there looks to be reasonable upside into the sp'1850s by the year end close next Tuesday.

*interesting strength in RIG, +1.9% in the $49s.  Target by Jan'3 is 52/53.

time for tea :)