Tuesday, 26 April 2016

12pm update - chop chop

US equities remain choppy, with most indexes broadly flat. VIX is subdued, but holding well above the early low of 13.66. A move into the upper teens - and sp'2050/40s, looks due... by the weekend.




Well, frankly, there is little to add.

Clearly, next event is AAPL earnings (due 5pm EST)... along with an API report.

Aside from that... market is likely to remain in minor chop mode.

notable weakness... FB, daily

Yet another momo stock.... somewhat struggling. It could be argued we've seen a key double top in the 117/116s. Next support is the 200dma, which in early May will be in the $102s... and that is 7% lower.

time for lunch, back at 1pm