Thursday 2 January 2014

3pm update - algo bots playing stop run games?

The market appeared to floor at 1830, only for a snap lower, but then a renewed attempt to claw higher. Are the HFT algo-bots playing stop-run games to start the year? Regardless, primary trend remains to the upside. Gold +$21, Oil is seeing a very significant drop of -3.2%


sp'15min


Summary

*equity bulls should be content with any close >1833
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If there is one thing that is extremely annoying..getting stopped out, only to see the market whipsaw back higher (or lower). From the price action today, it sure looks suspicious, with that brief break <1830.
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updates into the close...


3.15pm.. market wants to ramp...although yes..its been a bit of struggle today. Is everyone still on holiday, hence the lack of buyers?

TWTR +4.2%, so...everything is still fine in hysteria land.


3.29pm... market battling for a close >1833...


I've added a count, which relates to the weekly'8 chart, that I have been droning on about for the last 7-8 months. Only issue is where do we max out in mid/late Jan...1860, 70, 80..or even a touch higher.

I'm starting to think, we won't even break back under 1800 by mid Feb...which will mean the mid 1900s will be an easy target by April.


3.45pm.. best case close for the bulls... 1835/36.

back at the close !