sp'daily5
Summary
Long day ahead....
*I'm still holding Long, and remain seeking R2K in the 1190s.. at which point I'd start to lighten up.
-
back....after a walk... I need some air before the FOMC.
-
Wednesday, 18 June 2014
10am update - much like the Tuesday open
US equities are trading very much like early Tuesday, an opening minor drop..but then a reversal. The daily cycle is offering the sp'1960s in the immediate term, and that is certainly viable today, as reflected in a VIX that has settled its opex in the 11s.
sp'daily5
Summary
Long day ahead....
*I'm still holding Long, and remain seeking R2K in the 1190s.. at which point I'd start to lighten up.
-
back....after a walk... I need some air before the FOMC.
-
sp'daily5
Summary
Long day ahead....
*I'm still holding Long, and remain seeking R2K in the 1190s.. at which point I'd start to lighten up.
-
back....after a walk... I need some air before the FOMC.
-
Pre-Market Brief
Good morning. Futures are effectively flat, we're set to open around 1942. Metals are a little higher, Gold +$3, whilst Oil is +0.2%. Equities look set for the sp'1950s today, whether we see new highs.. that is somewhat difficult to say.
sp'60min
Summary
So.. here we are.. another fed day, with QE set to be reduced to $35bn a month. What the market will more likely focus on is what Yellen has to say in the afternoon press conference (around 2.30pm). Will she inspire confidence, or will she say something stupid about interest rate increases?
*maybe its just me, but stockcharts appears to be down... again.
--
Video from Hunter, with a dollar doomer...
I disagree with the basic premise, but hey..listening to nonsense we object to. can be useful, if only to solidify our original view...right?
Good wishes for Wednesday trading
9.16am.. .stockcharts is BACK up!.. they were installing the lost data from last week.
sp'60min
Summary
So.. here we are.. another fed day, with QE set to be reduced to $35bn a month. What the market will more likely focus on is what Yellen has to say in the afternoon press conference (around 2.30pm). Will she inspire confidence, or will she say something stupid about interest rate increases?
*maybe its just me, but stockcharts appears to be down... again.
--
Video from Hunter, with a dollar doomer...
I disagree with the basic premise, but hey..listening to nonsense we object to. can be useful, if only to solidify our original view...right?
Good wishes for Wednesday trading
9.16am.. .stockcharts is BACK up!.. they were installing the lost data from last week.
Daily Wrap
US indexes saw a day of minor chop, settling with moderate gains, sp +4pts @ 1942. The two leaders - Trans/R2K, settled +0.4% and +0.8% respectively. Near term outlook is for the sp'1950s, if not the 1960/70 range if almost everything goes right for the bulls into Friday quad-opex.
sp'weekly8b
Summary
*the attached count remains a best guess.. and yes, right now, we're still in sub'3...although I'd count the current wave (since the sp'1925 low) as an even smaller fifth. On any basis, I do NOT expect sub 1900s until late July at the very earliest.
--
So..with a daily close in the sp'1940s, we have seen the weekly 'rainbow' candle flip from blue to green. That makes for TEN consecutive green candles, which is pretty incredible.
I hold to a broader outlook of upside into mid July. From there, we are sure to fall, but... will it be just another small 4-6% retrace... or something more? I'm still keeping in mind that the spring weakness in the R2K/Nasdaq was a preliminary warning of trouble for the market this year.
Looking ahead
Tomorrow will of course be all about the FOMC announcement, due at 2pm. Yellen is due to host a press' conf. shortly after. The market - as am I, is expecting QE taper'5, taking QE fuel down to $35bn a month, beginning July'1st.
*next sig' QE-pomo is not until Thursday.
--
Holding long into the FOMC
Yours truly is holding a trio of long positions. CHK and WFM are both somewhat annoying lately. They have failed to continue climbing, but are perhaps merely in a 'coiling' stage. I'd settle for $31 and $43 respectively this week. I also hold an IWM call block, and seek an exit in the R2K 1190/1200 zone, which appears possible as early as late tomorrow.
R2K, daily
Generally, I don't hold any positions into a Fed day, so tomorrow will be kinda unusual for me, although I don't expect any surprises from the FOMC. So long as Yellen doesn't say anything 'stupid' about interest rates, the market should manage to battle to the upside.
Goodnight from London
sp'weekly8b
Summary
*the attached count remains a best guess.. and yes, right now, we're still in sub'3...although I'd count the current wave (since the sp'1925 low) as an even smaller fifth. On any basis, I do NOT expect sub 1900s until late July at the very earliest.
--
So..with a daily close in the sp'1940s, we have seen the weekly 'rainbow' candle flip from blue to green. That makes for TEN consecutive green candles, which is pretty incredible.
I hold to a broader outlook of upside into mid July. From there, we are sure to fall, but... will it be just another small 4-6% retrace... or something more? I'm still keeping in mind that the spring weakness in the R2K/Nasdaq was a preliminary warning of trouble for the market this year.
Looking ahead
Tomorrow will of course be all about the FOMC announcement, due at 2pm. Yellen is due to host a press' conf. shortly after. The market - as am I, is expecting QE taper'5, taking QE fuel down to $35bn a month, beginning July'1st.
*next sig' QE-pomo is not until Thursday.
--
Holding long into the FOMC
Yours truly is holding a trio of long positions. CHK and WFM are both somewhat annoying lately. They have failed to continue climbing, but are perhaps merely in a 'coiling' stage. I'd settle for $31 and $43 respectively this week. I also hold an IWM call block, and seek an exit in the R2K 1190/1200 zone, which appears possible as early as late tomorrow.
R2K, daily
Generally, I don't hold any positions into a Fed day, so tomorrow will be kinda unusual for me, although I don't expect any surprises from the FOMC. So long as Yellen doesn't say anything 'stupid' about interest rates, the market should manage to battle to the upside.
Goodnight from London
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