Thursday, 24 July 2014

1pm update - afternoon upside bias

US equities remain moderately higher, with the sp'500 battling for a daily close in the low 1990s. Metals are significantly lower, Gold -$14, with the miners ETF of GDX, -1.8%. VIX looks set for fractionally red close.

R2K, daily


*I remain particularly focused on the R2K, since that is the one I am currently long. I am seeking at least a daily close >1160, anything >1165 would open the door to 1170/80 zone tomorrow... where I would exit into the weekend.

Rest of the market looks set to just claw slowly higher into the weekend.

Clown finance TV are getting understandably overly excited at the looming interview between Liesman (such a great name), and King O... the interview (5pm EST) will focus on the economy/business.

VIX update (somewhat late) from Mr T.

stay tuned

1.10pm... and a micro snap lower... hmm.

1.20pm.. gap support on the R2K around 1150.

Here we go again.... on a day when the market broke a new historic high of sp'1991.... the top callers will be coming out again.

Utterly laughable that most are still getting hysterical over micro down waves of -0.25 to -0.5%

1.27pm.. with this micro down wave... market should be floored by the typical turn time of 2.30pm.

Regardless... I'm long, and I ain't concerned... not least on the VERY day when the sp' broke a new historic high.