sp'15min
Summary
Suffice to say... the setup doesn't favour the bears, with the smaller 5/15min cycles offering renewed upside after 2pm.
The hourly cycle is offering a bearish turn before the close... but right now... I don't much like the setup.
*I have eyes on INTC, but its somewhat short of my $32.25/50 re-short target... and I ain't much in a great mood anyway. Rule 26c, 'don't hit trading buttons if in a bad mood'
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Eyes sharp... VIX, USD, metals/oil... and of course.. the indexes.
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2.01pm... rates unchanged of course... Fed 'upgrades economy'.... go figure the disparity between those two.
Indexes twitchy... to sp'2088.. but snapping to 2097.
No doubt... stops being hit both sides... annoying a great many.
2.03pm.. notable weakness in the USD.. -0.3%.. and that is helping metals/oil
Hyper short-stop cascade.... the horror... with sp'2100...
What a mess...
2.05pm.. INTC.. set for the low $32s... Hmmm
Bull maniacs really need a break >2105... where there are a few aspects of resistance.
2.11pm.. USD -0.5%.... incredible, when you consider the Euro/Greek situation. Target remains DXY 92/90 zone before a mid term turn.
Equities still twitchy... but this looks no good for those in bear land... after that brief drop to 2088
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2.22pm... Update from the overly loud Mr C.
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.. chop chop.. sp'2094... ahead of Yellen.
2.32pm.. Her highness... speaketh!
sp'2099.... VIX turns negative
2.34pm... First use of 'transitory'.... if you're playing the drinking game.
Market looking increasingly pleased with the world.. after all.. Greece is fine too.. right?
2.36pm.. Another 'transitory.'... lol
USD remains weak, -0.4%.... for me, that remains the really bizarre (if expected) aspect..
2.38pm... Trans' x3.... .
As i said... 'word games'.... todays word of the day is indeed... Transitory....
The number of the day....
Trans' 4
2.41pm... Another short-stop cascade... sp'2102.... bull maniacs are taking control... with all this nonsense 'transitory' talk.
2.43pm.. sp'2105..... breaking the 50day MA.... bears getting washed out... as USD cools.. and that is helping just about every asset class.
... and here come the questions from the 'approved' media hacks
Did Zerohedge not get their yellow ticket/pass?
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2.46pm.. Eyes on the USD, -0.7% .. pure.. crazy.... which is naturally helping Gold, +$6
2.49pm.. Oh there he is.. the Liesman
Scripted or not... its pure comedy...