Wednesday, 26 February 2014

10am update - opening gains fading

US indexes open slightly higher, with the market set to again climb into the 1850s - whether we can close there, is another matter. Precious metals are weak, Gold -$8, although the near term trend remains bullish.



*not exactly the most exciting of opens, and the gains have already faded. ever..there is very little downside power. Barring a break <1840, bears have absolutely nothing to look forward to.

The mainstream have been getting increasingly twitchy that the sp'500 has not yet made a closing high in the 1850s.  Equity bulls really should be seeking a daily close >1850 either today or tomorrow. There is heavy QE tomorrow, so the opportunity is there.

Notable movers:

Dreamworks (DWA): -12%, on lousy results, but then, the Q3 results weren't much good either.

see key stats @ yahoo! finance

I'm kinda surprised the company only has a market cap of $3bn of so. Regardless, it ain't doing so well.

First Solar (FSLR) -10%. I'm a fan of solar power, but this stock is more over-hyper unstable nonsense.

10.15am.. a bit of a choppy mess, but the housing data has given the market a slight kick to the upside.

Hourly MACD cycles look lousy for the bears. A daily close in the 1850s...very probable.

Notable the indexes... VIX +4%... hmm