Monday, 30 December 2013

3pm update - closing hour gains

The underlying upward pressure should be pretty obvious to most out there, and the main US indexes should close fractionally higher. Metals remain weak, Gold -$12, Silver -2.1%. VIX is higher by almost 8% in the mid 13s.



Underlying MACD (blue bar histogram) on the hourly index charts is clearly allowing a year end close in the sp'1850s tomorrow.

Yes, the VIX is somewhat higher, but I can't take it seriously, whilst there is zero power on the bearish equity side.

Notable recovery in TWTR, now just -1%, back in the $63s.

We now have a clear reversal candle on TWTR. A net daily positive close would be very impressive for the momo chasers out there.

3.45pm.. the index chop continues...however, there is increasing weakness in the metals..and that is bringing the miners lower.

End year tax-loss miner selling?