sp'60min
Summary
So, we're set to open a little higher, and with the hourly MACD cycle about to turn positive, there is potential for the bulls to kick the market back into the 1800s.
However, this is arguably..going to offer the first decent re-short opportunity in over a year.
The bounce...could easily drag out into tomorrow, and maybe we'll see a brief FOMC spike to 1810/15..before a reversal.
--
Early movers: AAPL -8%..will be interesting to see whether it can recover across the day.
STX, -5.7%...also on market reaction to earnings.
Ford (F), +2.0%
--
We've a fair few things today...some econ-data...QE-pomo, and King O' later this evening...
Of course, the FOMC starts today, with the announcement tomorrow at 2pm.
The fun never ends..right?
-
Update on Japan
Brazil, Spain, Italy..France...indeed, most of the world indexes are now looking problematic to end January. Baring a reversal in the next few days, First downside for the bears should be 12k, which is 20% lower.
-
Video update from Mr Permabull
Oscar has struggled in the past week, with a series of bad calls. However, he does point out correctly, natural support in the 1780/70s..and indeed, its possible we just bounce here for some days.
As many also recognise though..a break <1765 - the 100 day MA..and taking out the 1767 FOMC taper'1 low, would be a major bearish achievement.
*Durable Goods Orders: -1.6%
Pretty lousy numbers, and the sp' drops 5pts on the news... to +2pts @ 1783.