sp'60min
Summary
*note the VIX, barely higher....will probably turn red given a few hours.
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So..minor chop to start the day, and once again..any equity bear should surely agree that the price action is simply not showing any real downside power.
At best..bears get a few hours of weak chop..before the market begins another up wave.
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TLSA, daily
What can be said, other than...the hysteria...continues.
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9.57am.. market trying to floor at 1840... the smaller 5/15min cycles are about done.
Bears...here comes the QE money!
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TSLA +13%....absolutely mayhem for the TSLA shorts this morning. According to clown Cramer, its due to some research report.
Maybe its time I published my own report....in particular on AMZN ?
10.02am.. econ-data comes in weak...but the index cycles look floored at sp'1840.
Metals turn positive....whilst UGAZ -6%...Nat Gas is probably -1.5 to -2% or so.
10.08am.. market trying to put in a spike floor at 1840. Certainly..price action does NOT favour the bears.
QE is coming..$2-3bn of 'Yellen bux'.
10.11am... provisional turn ...confirmed.
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10.17am..so.. we have an initial floor at 1840...nothing conclusive yet...but we'll know within a few hours.
Typical turn time of course is around 11am, so rest of this hour could be chop.
Regardless..as we move into the afternoon, I'd be surprised if we aren't comfortably in the 1850s.
notable strength: UAL, +3%... more on that one later.
10.25am... bounced already 7pts to 1847....bears on the run!