Wednesday 11 June 2014

3pm update - minor upward churn into the close

US equities look set for minor churn - with underlying bias to the upside, into the close. Mr Market continues to display the same style of price action as it has for some weeks..arguably..months.


sp'60min


Summary

There really isn't much to note.

There is certainly some interesting action going on in individual stocks, but the broader market is basically just seeing some minor weakness, after what have been pretty significant gains from the sp'1864 low.
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*I will hold moderately LONG overnight, via WFM - which has recovered well from earlier lows, and I remain seeking the $44s.


3.15pm... market quietly pushing upward..

WFM has recovered very well, and might even close net positive, which is certainly pleasing..I could do with the 44s by late Friday, and then close out for the weekend.


3.28pm... I realise most have no concern for it,, but hey...why not cheer on WFM...after all, its my one and only LONG position!

A daily close in the $42s would be good...and keeps up 44s by Friday..although I realise that would require a sig' jump across the remainder of the week.

Main market...merely in standard recovery mode....1944....