Friday, 17 April 2015

10am update - opening upset

US equity indexes are significantly lower, with a clear break of short term rising trend... market is already testing the 50dma of sp'2085. VIX is confirming the equity downside, +11%... but still only in the low 14s. Metals are a little higher, Gold +$5. Oil has already turned positive, +0.1%.




*Notable weakness in the Dow, -230pts (1.3%)

So.. we're lower, and now its a case (as ever) as to what degree of latter day recovery we will see. Clearly, a net gain is going to be difficult... not least since its opex.

VIX is clearly at resistance on the hourly cycle, it will be difficult to break/hold above 14.30.

notable strength: GE +0.8%.. after reasonable earnings.

Perhaps most bizarre... NFLX continues to climb, +2.3% @ $575.