Wednesday, 26 March 2014

1pm update - two leaders warning of trouble

Whilst the headline indexes remain close to flat, much more notable is the weakness in the two leaders - Trans/R2K, lower by -0.8% and -0.5% respectively. Equity bulls are running out of chances to break >sp'1883. VIX remains fractionally lower.

Trans, daily

R2K, daily


So...3 hours to go..we have an interesting afternoon ahead!

Often the two leaders will break -0.5% to -1.0%, a day before the headline indexes finally snap lower.

I remain heavy short..with 'line in the sand' short stops at 1884/85.

1.23pm... Market looks...real tired.

Hourly cycles are rolling over....offering sig' downside tomorrow.

A daily close in the 1850s would make things a lot easier for the bears...

*notable weakness...momo stocks are getting the hammer... FB, TWTR, -4%..and looking ugly.

1.30pm.... sp'1864..and the 1850s...are kinda close..with 150 minutes to go !

Come on bears...its time to start firing the heavy artillery...and make some noise.

1.43pm.. welcome back to the 1850s.