Friday, 17 April 2015

12pm update - provisional sign of a floor

US equities are battling to put in a floor of sp'2079 (notably under the 50dma).. with the VIX maxing out around hourly cycle resistance, at 14.44. Metals are holding minor gains, Gold +$4. Oil is cooling, -0.7%.. but still higher by around 9% this week.




So... a viable floor of sp'2083.. but clearly... its going to take some hours to get any reasonable clarity.

Frankly, the equity bears should be in the process of getting short-stopped out. One day of weakness - due to EU/Asia market concerns, does not negate the broader US trend.

Did we already forget the R2K and NYSE Comp' were breaking new historic highs this week?

notable strength: Seagate (STX) +4.0%.. after earnings

weakness, BABA, -2.5%... in danger of breaking key rising support

VIX update from Mr T

time for tea