2pm update - momo stocks remain especially weak

Whilst the main market is largely just churning sideways into the weekend, the momo stocks remain weak. FB -1.4%, NFLX -2.9%, whilst the hysteria that is TWTR, -8.0%. VIX is +1.5%, but such a minor gain is to be dismissed as just the usual noise.


TWTR, daily

sp'60min

Summary

Certainly, the momentum is slipping in the hysteria/momo stocks, although with such a strong broad market, further highs look likely..even in TWTR.
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It would seem the mainstream consensus for the broader market is what I was originally looking for...

...a short term peak in mid January, somewhere in the sp'1875/1900 zone. From there, risk of a 75/100pt drop..but that will barely get us into the upper 1700s again.

1pm update - continued minor chop

The broader market remains choppy, but there is certainly lots of interesting action going on. The momo stocks remain weak, with TWTR -6.5%. The shippers are stabilising after an early spike high - DRYS in the low $5s..now $4.80s, but set for the $6s by mid Jan.


sp'weekly'8

RIG, weekly

Summary

*I remain heavy LONG RIG, having added last Thursday in the 47.30s. I am seeking an exit next Friday in the 52/53 zone. Longer term upside looks to be the 70s though.
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So.. a choppy market, but at least its not a boring end to the week!

I've not watched a minute of clown finance TV yet today, did I miss anything?  ;)

TWTR now -7%...ohh the humanity!


VIX update from Mr R.


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12pm update - choppy end to the week

Equities are seeing continued minor chop, with particular weakness in some of the bubble/momo stocks like FB and TWTR. Metals are look weak, despite minor gains, Gold +$4. Shippers cooling off after early highs, DRYS -0.5% in the $4.60s. VIX is fractionally higher, but set to close red.


sp'60min

sp'daily5

Summary

Clearly, there is some resistance in the low sp'1840s..against the big channel..yet, I'm guessing that will be broken over next week.

The hourly MACD cycle is already kinda low, and there looks to be reasonable upside into the sp'1850s by the year end close next Tuesday.

*interesting strength in RIG, +1.9% in the $49s.  Target by Jan'3 is 52/53.
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time for tea :)