sp'60min
vix'60min
Summary
*important note. The Yellen will be talking to the US Senate today at the unusual time of 2.30pm.. rather than 10am. I would imagine that will drag on into the market close, probably to 5pm EST.
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So... we're set to open higher.. above yesterday's high, and now its a case of whether this market melts upward into the weekly close, or if we see a swift reversal.
I would still guess we have a high opportunity of retracing lower... at least to the 2090s... but with a rather attractive micro gap around 2080.. which in theory would equate to VIX 15/16s.
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notable early movers..
NFLX +10% @ $108... 6 cents x4 .. that is $0.24 of earnings a year... giving a PE of 450... a mere FOUR HUNDRED AND FIFTY YEARS for an investor to recover their investment.
INTC +2.5% in the $30.40s... with EPS of 55 cents.. but underlying numbers plain suck. Market seems to realise this..having sold it lower from the low $32s last night.
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Overnight China action: Again, the volatility continues to lessen, with the China market seeing early weakness to 3688, but settling +0.5% @ 3823. Renewed weakness for a day or two seem probable, before another lunge higher back above 4K.. to the 4400s in August.
I am still looking for another massive wave lower.. to the 3200/3000 zone this Sept/Oct.
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*I remain long VIX from 12.92. I'd guess we'll be trading under that this morning... but there still appears a fair chance of seeing at least the mid 14s by the Friday close. As ever, I'd prefer an exit into the weekend.
Have a good Thursday
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9.00am.. Draghi is battling against questions from the media hacks about the Greek bailout'3.
US indexes increasing gains, sp +13pts.. we're set to open at 2120.... a mere 14pts shy of the historic high.
INTC +2%... still cooling from the AH high... if the market does turn lower today.. or tomorrow... INTC will be in trouble.
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9.35am.. INTC.. huge opening FAIL.... +0.5%.... set to turn red.