Tuesday 12 January 2016

3pm update - clawing upward into the close

US equity indexes are making a push to turn back positive, as the baby bull flag looks set to play out. By definition, the sp'1950/60s will be viable tomorrow/Thursday. First target of 1970 looks viable this Friday/next Tuesday. New for Oil of $29.93... but currently rebounding >$30.


sp'60min



VIX'60min


Summary

*baby bear flag on the VIX
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An interesting day in market land.. one where experience does actually count for a lot.

yours truly remains.............. patient.
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notable movers...

AA -9%.. as the market is not fooled by the latest earnings report

CNX -7%.. commodity carnage continues

TVIX -4.5%... crazy intraday swings today.
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3.30pm.. sp +14pts @ 1938... and no doubt the bears are getting short-stopped again.

The 1970s are due... although look out of range tomorrow. More viable on Thurs/Friday.


TVIX -8%... back to the opening level.    What a day !