Tuesday, 29 July 2014

Closing Brief

It was a day of minor swings for most indexes, sp -8pts @ 1969 (morning high, 1984). The two leaders - Trans/R2K, settled -1.4% and +0.2% respectively. Near term offers the low 1960s.. but the 1990/2000s look viable shortly after.




*awaiting earnings from TWTR and AXP

So.. a day of relatively minor chop, with some rats selling into the close... King O's appearance sure didn't help with his comments on Russia/Ukraine.

As for tomorrow...

From a pure technical perspective, the 5/15/60min cycles are not particularly setup well for the bears tomorrow.

We could open in the low 1960s...but I'd expect that to hold. There are many aspects of support in the 1965/55 zone...


TWTR bears getting obliterated...

Set for the $50 level

4.13pm.. TWTR +26%.... and ALL TWTR bears...utterly destroyed.

4.21pm.. A horror show for anyone short TWTR stock, now +29% in the $49s.

4.32pm.. TWTR +32% @ $50.... even a little earlier than I thought.

4.40pm... TWTR +36% @ $51s...

next upside zone is 58/60... might take until late Aug/Sept... regardless.. that is one hell of a gain today.

more later.. on the VIX