sp'daily5
Summary
Best guess..a daily close, somewhere in the sp'1890/95 zone.
First things first though...bulls need to break >1884.
*notable strength: AAPL +1% @ $598. A break into 600s, will offer 620/30s in early May.
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...standing by!
2pm....QE taper'4.......market a touch twitchy, but really...nothing sig'.
What is impressive - for the equity bull side, is seeing how well the market is coping with QE being reduced.
*QE schedule for May issued at 3pm. I'm curious as to if any QE-pomo Thur/Friday.
2.06pm.. with the uncertainty out of the way, there is buying..and market is making a play to break 1884.
The only concern for the bulls is the Friday monthly jobs data. If that comes in >175k, then market should close the week in the 1890/1900 zone.
2.12pm..minor chop..and we're still set to break 1884 before the close....with the VIX red.
2.22pm.. minor chop continues..and the equity bears just aren't around.
It would seem just a matter of time before we break 1884, which will trigger a fair few short-stops.
2.30pm.. Well, we're 30mins past the announcement, and there is NO downside power.
Anyone on the short side is in high danger of being nailed into the close.. sp'1890s are well within range.
2.34pm EXITED long- DO, very sig' gain, and I'm trying to lighten up a bit.
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2.41pm.. still stuck under the 1884 threshold...oh well, if not today, then tomorrow or Friday. Makes little difference.
STX, what is up with that today? Getting the smack down, despite reasonable numbers.
2.52pm.. market breaking through.....1885s..due.