Friday, 24 October 2014

10am update - opening mixed chop

Equities open with some mixed chop, but with the underlying upside still noticeable, sp'500 +0.2% in the mid 1950s. Energy prices are weak, Nat' gas -1.8%, with Oil -0.9%, the latter sure won't help the market today. VIX is a touch lower, stuck in the mid teens.


sp'daily5


Summary

*note the upper bollinger on the daily chart, it is falling.. and will be a key aspect of resistance next week... in the 1970s.. along with many other aspects.
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So.. we open a little higher... but I don't expect much from today... probably chop... and a flat close. Overall though, a strong week for the bulls.
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Notable movers

DRYS -27%.. on a new share offering

AMZN is lower by -7%, certainly nothing too dramatic, relative to the recent NFLX smackdown.
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time to shop.... back soon.


10.12am.... chop chop.. a touch of weakness, VIX +5%, but really, barring another 'spooky' Ebola news headline during today,  I can't see anything other than moderate chop in the 1950/40s.

Oil continues to slide, -1.3%.. and that is a problem for the broader market.