Wednesday, 28 January 2015

10am update - opening minor gains

US equities start the day with minor gains, back into the sp'2040s. R2K is suggestive the gains are shaky.. having already turned fractionally red. VIX is similarly offering an opening reversal. However, market looks set to churn ahead of the FOMC.


R2K, daily


*I generally don't dismiss a black-fail candle... but the one on the R2K, I am not overly concerned about. Besides, market will likely churn ahead of the fed press release, and then see renewed gains into the close.

Not much to add. AAPL sure is helping the tech stocks, with what were very impressive earnings data.

Just consider $3 EPS.. x4... $12 a year... the current PE is barely 10. How the hell could anyone consider that over priced?

Maybe a hyper-bubble top with AAPL @ $200/250 or so ? 

Four hours until the fed press release.... is it time for lunch yet?