sp'daily5
VIX'daily3
Summary
Little to add.
Utterly tedious week... and I know I'm not the only one feeling that way.
--
VIX update from Mr P.
-
time for lunch..
Friday, 27 February 2015
12pm update - still tedious
US equities remain in a state of micro chop. The only notable thing in the past few days is that the sp'500 has not broken another new high (>2119). Metals are holding gains, Gold +$8. Oil has turned negative, -0.2%. VIX remains in cooling mode, -2% in the 13.60s.
sp'daily5
VIX'daily3
Summary
Little to add.
Utterly tedious week... and I know I'm not the only one feeling that way.
--
VIX update from Mr P.
-
time for lunch..
sp'daily5
VIX'daily3
Summary
Little to add.
Utterly tedious week... and I know I'm not the only one feeling that way.
--
VIX update from Mr P.
-
time for lunch..
11am update - minor chop
US equities remain in minor chop mode.. ahead of the weekend. A rally into the afternoon is very likely, and that would be enough to push the Nasdaq Comp' to the giant 5k level. Metals are holding moderate gains, Gold +$7, whilst Oil is trading broadly flat.
sp'60min
sp'daily5
Summary
*yeah, I'm late again.
--
Right now, best case for the equity bears... the market doesn't make any new highs today, but really, that is pretty lame.
Underlying MACD (blue bar histogram) is still ticking lower, and at the current rate will see a bearish cross in about two days. So.. in theory.. we should see some degree of weakness no later than next Tuesday.
Retrace downside target remains sp'2065. Anything under 2050 looks highly unlikely for some.... months.
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Notable weakness, CHK, -2.4% in the $16s.... merely continuing to implode.. after recent poor earnings.
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Update from an overly loud Oscar
--
back at 12pm
sp'60min
sp'daily5
Summary
*yeah, I'm late again.
--
Right now, best case for the equity bears... the market doesn't make any new highs today, but really, that is pretty lame.
Underlying MACD (blue bar histogram) is still ticking lower, and at the current rate will see a bearish cross in about two days. So.. in theory.. we should see some degree of weakness no later than next Tuesday.
Retrace downside target remains sp'2065. Anything under 2050 looks highly unlikely for some.... months.
-
Notable weakness, CHK, -2.4% in the $16s.... merely continuing to implode.. after recent poor earnings.
-
Update from an overly loud Oscar
--
back at 12pm
Daily Wrap
US equities saw another day of mixed chop, but with notable new highs in the R2K (1239), and the Nasdaq Comp' (4989). Near term outlook still offers opportunity of a minor retrace to the sp'2060s, but from there.. a straight run into the sp'2250/350 zone looks likely by mid summer.
R2K, daily
Nasdaq Comp', daily
Summary
The giant psy' level of 5k looks viable tomorrow. Regardless.. a challenge of the more important 5132 peak of March 2000 looks due within the next month or two. Once we see a monthly close in the 5200s, it opens up a straight run to at least the 6000s.
With the ECB QE-pomo train set to arrive in the EU next month... there is zero reason why the equity bears should have any hope of a sig' correction for some months.
The elusive retrace
sp'daily3 - fib levels
Right now, the mid sp'2060s look the most viable level. By middle of next week, anything under the 50dma looks out of range.
-
Closing update from Riley
-
Looking ahead
Friday will see a quartet of data, GDP (rev'1), Chicago PMI (market expects 58), consumer sentiment, and pending homes sales.
*there is a trio of Fed officials speaking at a monetary conf. in NYC... Mr Market will be listening for any hints on rate rises this summer.
--
Goodnight from London
R2K, daily
Nasdaq Comp', daily
Summary
The giant psy' level of 5k looks viable tomorrow. Regardless.. a challenge of the more important 5132 peak of March 2000 looks due within the next month or two. Once we see a monthly close in the 5200s, it opens up a straight run to at least the 6000s.
With the ECB QE-pomo train set to arrive in the EU next month... there is zero reason why the equity bears should have any hope of a sig' correction for some months.
The elusive retrace
sp'daily3 - fib levels
Right now, the mid sp'2060s look the most viable level. By middle of next week, anything under the 50dma looks out of range.
-
Closing update from Riley
-
Looking ahead
Friday will see a quartet of data, GDP (rev'1), Chicago PMI (market expects 58), consumer sentiment, and pending homes sales.
*there is a trio of Fed officials speaking at a monetary conf. in NYC... Mr Market will be listening for any hints on rate rises this summer.
--
Goodnight from London
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