Wednesday, 22 January 2014

10am update - minor chop

Minor chop to start the day, although the sp' has come within just 0.4% of breaking a new high. Dow is being held back by IBM (-3.5%), although earnings were arguably 'reasonable'. Metals look weak, whilst Oil is building gains of 0.8%.



A relatively quiet open.

As ever, we'll just have to see how big an effect the latest QE has on the market. Overall though, I simply can't see a break <1815...certainly not before 1860/80.

DRYS, struggling...

DRYS really needs to hold the $3.60/50s, or another 20% will be get knocked off. As ever, that will be largely dependent upon the BDI, which itself is now -40% on the month.

10.13am... probably the most notable event of the year so far...

UAL breaks the 2007 double top of $48.25.

..which is almost 3 months ahead of my target schedule. Now...can it break $50 in the near term?  Anyone calling for $100 in late 2015/early 2016 yet?

10.28pm...the minor index chop continues,but you can see the underlying strength.

AAPL is notably strong, not much, but its a fair sign of the broader market.