sp'60min
vix'60min
Summary
*VIX confirming a market that is supremely confident. Even VIX 15/16 will be difficult, with sp'1730s.
-
12.39pm, Minor bounce continues, but 1775 should comfortably hold.
--
time for lunch !
Thursday, 31 October 2013
12pm update - minor bounce
The market is seeing a minor bounce after the initial drop from 1775 to 1755. The high should hold, with renewed weakness in the first week of November. Best guess remains, sub'1700s are still off the agenda for remainder of this year. The VIX strongly supports that view.
sp'60min
vix'60min
Summary
*VIX confirming a market that is supremely confident. Even VIX 15/16 will be difficult, with sp'1730s.
-
12.39pm, Minor bounce continues, but 1775 should comfortably hold.
--
time for lunch !
sp'60min
vix'60min
Summary
*VIX confirming a market that is supremely confident. Even VIX 15/16 will be difficult, with sp'1730s.
-
12.39pm, Minor bounce continues, but 1775 should comfortably hold.
--
time for lunch !
11am update - bears battling lower
The main indexes are holding moderate declines, after a PMI number that showed the strongest jump in over 30 yrs. Metals remain very weak, with Gold -$18. Equity bears look set to kick the market lower across the next few days, but anything <sp'1730 will be real difficult.
sp'60min
Summary
Hourly charts are showing a slow...but consistent decline.
However, considering it is end of the month, there is likely to be some end month chop across the afternoon.
--
So..right now..best guess..1730s..then low/mid 1800s in November.
-
11,01am.. remains ironic, red indexes...and red VIX..in the 13.50s ! Fearless market.
The FB looks floored around the lower bol' /50 day MA...
Upside to the 60s into year end.
-
11.25am.. indexes seeing a minor up wave, but 1775 looks a secure high now.
momo stocks all jumping, FB, NFLX, all the usual suspects.
sp'60min
Summary
Hourly charts are showing a slow...but consistent decline.
However, considering it is end of the month, there is likely to be some end month chop across the afternoon.
--
So..right now..best guess..1730s..then low/mid 1800s in November.
-
11,01am.. remains ironic, red indexes...and red VIX..in the 13.50s ! Fearless market.
The FB looks floored around the lower bol' /50 day MA...
Upside to the 60s into year end.
-
11.25am.. indexes seeing a minor up wave, but 1775 looks a secure high now.
momo stocks all jumping, FB, NFLX, all the usual suspects.
10am update - no one believes the number
The sp'1775 top looks pretty secure, at least for some 'days'. Primary downside remains the low 1730s, but that probably won't be hit until early next week. Precious metals are weak, Gold -$18, Oil is flat. Regardless of how we close today, the monthly charts all look set to close the month strongly.
sp'60min
sp'daily5
Summary
*Chicago PMI;65.9 , vs 55.0 expected. A truly BIZARRE number, in fact, I've never seen such a jump..EVER. I gotta think its a typo in the press release. No way did it climb that high in a month.
-
So. market opens a little weak, but bears look set to struggle, even to drop just a few percent, and we're already seeing the indexes flip a touch green.
Despite the PMI number, I don't think indexes can break >1775 in the immediate term.
-
FB offering a reversal candle...I think it'll be floored soon.
TSLA..looks real ugly..and likely headed for 110/100, maybe within a week.
stay tuned
sp'60min
sp'daily5
Summary
*Chicago PMI;65.9 , vs 55.0 expected. A truly BIZARRE number, in fact, I've never seen such a jump..EVER. I gotta think its a typo in the press release. No way did it climb that high in a month.
-
So. market opens a little weak, but bears look set to struggle, even to drop just a few percent, and we're already seeing the indexes flip a touch green.
Despite the PMI number, I don't think indexes can break >1775 in the immediate term.
-
FB offering a reversal candle...I think it'll be floored soon.
TSLA..looks real ugly..and likely headed for 110/100, maybe within a week.
stay tuned
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