Wednesday 23 April 2014

11am update - underlying strength

US equities have seen a little morning weakness, but we have an hourly spike-floor candle in the support zone of sp'1875/70. There is next to zero downside pressure, and weekly charts continue to warn of much higher levels into May.


sp'60min


Summary

I've been shopping this morning...

LONG, RIG, FCX
SHORT, SLV.

I would also consider long Ford (F), but not with the 5/15min cycles as they are.
-

Notable weakness.. NFLX


I guess the Khalessi is long AMZN ?
--
time to cook...


11.16am.. minor chop..and maybe we're looking at a nano ABC wave. Regardless, bigger cycles are all bullish.

notable weakness: TSLA, -3.7%, whilst Ford is +0.8%, hmm