Monday, 12 January 2015

3pm update - borderline

Equities are close to breaking the earlier low of sp'2022. Any daily close under 2020 should be something of a concern for the bull maniacs. Oil is not helping, -4.4%.. and is naturally impacting the energy sector stocks. VIX is clawing upward.. +15% in the 20.10s.


sp'15min


Summary

*best guess... the 2022 low holds... but clearly.. this is a very borderline situation.
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... the closing hour will be pretty important in shaping the next few days.

Notable weakness, copper miners, FCX -1.7%.. TCK -4.7%
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...updates into the close... not least if 2022 fails (but I'm guessing..... no)
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3.20pm.. it remains choppy.. but looks like 2022 will indeed hold.

So.. Mr Market merely needs an excuse tomorrow to gap higher... and push all the way into opex.
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3.37pm.... sp'2024... it remains borderline... but price action remains VERY tight.

3.49pm.. SNAP to the upside.... if it holds in the 2030s... its a minor victory for the bull maniacs... buyers coming in... bears bailing.