sp'daily5
Summary
Nothing much to add, a quiet day, tomorrow will likely be a lot more dynamic.
Time for lunch
Monday, 27 August 2012
12pm update - still seeking 1380
Market remains in slow crawl mode, I'm still looking for a flat doji close. VIX clinging onto moderate gains.
sp'daily5
Summary
Nothing much to add, a quiet day, tomorrow will likely be a lot more dynamic.
Time for lunch
sp'daily5
Summary
Nothing much to add, a quiet day, tomorrow will likely be a lot more dynamic.
Time for lunch
11am update - 1380, bounce, then major fail ?
A relatively quiet opening 90 minutes, there really isn't anything likely to move the market until tomorrow. A daily close with a doji candle would seem fitting.
VIX continues to battle higher, a peak of 18/19 later this week seems 'best bear case'.
Sp'daily5b, scenarios
Summary
A new chart to outline the broad scenarios. A' remains very possible, sp'1450/75 this autumn remains well well within range if there sellside volume remains non-existant.
Right now, best guess is a bounce off 1380, but putting in a slightly lower high <1426...before a wave lower. Yet this is entirely dependent upon so many issues, not least the market getting majorly spooked pre-election by 'something'.
Anyone looking to take a new short block, should arguably wait until middle of next week, after the post-hole hysteria has quietened down a bit.
-
Whatever the Bernanke says this Friday at the hole, I'd expect the market to rally off it. It is important to note that Draghi is at the hole on Saturday, so bears holding long across this coming weekend are at high risk of a Monday gap higher.
More later
VIX continues to battle higher, a peak of 18/19 later this week seems 'best bear case'.
Sp'daily5b, scenarios
Summary
A new chart to outline the broad scenarios. A' remains very possible, sp'1450/75 this autumn remains well well within range if there sellside volume remains non-existant.
Right now, best guess is a bounce off 1380, but putting in a slightly lower high <1426...before a wave lower. Yet this is entirely dependent upon so many issues, not least the market getting majorly spooked pre-election by 'something'.
Anyone looking to take a new short block, should arguably wait until middle of next week, after the post-hole hysteria has quietened down a bit.
-
Whatever the Bernanke says this Friday at the hole, I'd expect the market to rally off it. It is important to note that Draghi is at the hole on Saturday, so bears holding long across this coming weekend are at high risk of a Monday gap higher.
More later
10am update - a quiet Monday
Good morning. Aside from the little quakes in California, and Tropical storm Isaac in the Gulf of Mexico, it really is kinda quiet out there.
We do have lots of econ-data this week, starting tomorrow, so in theory, it should be more active than last week. Lets not forget, this is the week of the hole. Urghh.
Sp'daily5
VIX, daily
Summary
I've added a black minor count, I have only low-confidence though in this. Index target would be somewhere around 1380 by Thur/early Friday, and then a bounce AFTER the Bernanke has spoken. Perhaps from 1380 to 1410, putting in a lower high.
I will continue to drone on about how important 1354 is. Until we break that, we are most certainly still putting in higher highs..and higher lows. Bullish!
--
*Stock movers, TIF, +6% (earnings less bad than expected, go figure), AAPL, +17 to 680, pretty impressive, but relative to the main market, its cheap.
We do have lots of econ-data this week, starting tomorrow, so in theory, it should be more active than last week. Lets not forget, this is the week of the hole. Urghh.
Sp'daily5
VIX, daily
Summary
I've added a black minor count, I have only low-confidence though in this. Index target would be somewhere around 1380 by Thur/early Friday, and then a bounce AFTER the Bernanke has spoken. Perhaps from 1380 to 1410, putting in a lower high.
I will continue to drone on about how important 1354 is. Until we break that, we are most certainly still putting in higher highs..and higher lows. Bullish!
--
*Stock movers, TIF, +6% (earnings less bad than expected, go figure), AAPL, +17 to 680, pretty impressive, but relative to the main market, its cheap.
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