Thursday 30 October 2014

3pm update - ... which direction we are going

US equities are starting to cool from their earlier cycle high of sp'1999. The 'old news' has caused havoc in market land, with truck loads of short-stops being hit, the largest e-mini futures trade in a single second ($0.5bn)... and problematic issues with market quotes.


sp'15min


Summary

Frankly.. I think the following sums up today...



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Equity bears are riding a crazy boat... in a tunnel of madness... lead by a maniac.

Healthy market... right?

I love the drama of the market.. but today sure is testing my tolerance.


2.58pm... VIX -1%... set to turn positive.... CRAZY CRAZY market...

Indexes set to turn red......... well, aside from the Dow (due to Visa)
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3.07pm... sp'1989.. with VIX -1.7%... choppy.. but there the hourly cycle is offering some huge bearish divergences into the weekend.

Notable weakness, INTC -4.1%


3.17pm.... Seeking a net daily gain in the VIX... in the mid 15s....  might equate to sp'1984/82..

Oil remains very weak, -1.5%... and that is pressuring the energy sector (naturallly)


3.40pm.... A crazy afternoon in market land. A lot will be said by many after the close... not least on the 'broken market'.. and the giant e-mini futures trade on the 'old news'.

As things are... seeking... more than anything.. a VIX daily net gain.