sp'60min
Summary
Well, another week is coming to a close.
Today's weakness is interesting (more so in the R2K, Trans, Nasdaq), but I am still looking for the sp'1900s. Hourly MACD (blue bar histogram) cycle looks floored, although there is clearly no turn..yet.
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I will hold long across the weekend, CHK, STX, and short- SLV. Will be seeking to pick up RIG (again) next Monday in the 42.25/41.75 zone.
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updates into the close....
3.25pm.. not much happening...just minor weak chop.
Notable that AMZN held the big $300 level, whilst AAPL is still actually net higher!
3.33pm.. RIG continues to weaken..and another 50/75 cents lower on Monday..and I'll pick that one up again.
Next week is a HUGE week, especially Wednesday with ADP jobs, GDP Q1, and the FOMC.
So, one way or another, we're going to see some strong price action.
3.46pm.. Well, the sp' held the 50 day MA..so.. that is something for the bull maniacs to be relieved about. VIX is +7%, and really, that is kinda lame in the scheme of things. Even the mid teens seem hard to achieve.
3.55pm... been a good week...back at the close!