US equities are comfortably above the short term floor of sp'1814, and with Yellen due to speak tomorrow, there is the likelihood of another foray into the 1840s. However, downside pressure is very strong, and a break above the 50day MA looks very unlikely.
sp'60min
Summary
Well, an interesting day of swings all over the place.
Best guess remains, we hold under the 50 day MA (certainly for any daily close), and see renewed downside next week, after the 3 day Easter weekend.
3.11pm..as expected..we're seeing some minor chop....a daily close in the 1830s..with VIX a touch lower.
Metals and miners set to close significantly lower, more on those after the close..on my other pages!
Meanwhile..in Disneyland....
TWTR....
The lunacy ....continues! No doubt, a lot of the longer term TWTR shorts..are covering, with a clear break back above the daily 10MA.
3.32pm.. Mr Market spooking the weaker bears out of their positions.
Barring a daily close >50 day MA....this REMAINS a bear flag.
3.50pm... well. sp'1842...and we're set to close just a little below the big 50 day MA. VIX -2%...set to melt into late Thursday...probably.