10am update - another week begins

The market is open, and we're lurking around sp'1402. Certainly this move is nothing too significant, and is arguably a dip buying zone for those maniacs looking for a Santa rally into year end. The VIX is 3% higher, but that is ..as usual..mere noise.


sp'60min

sp'daily5

Summary

There really isn't much to say right now, its just a minor opening move.

There should be rising support at the hourly 10MA @ 1398. If that fails ,there is the daily 10MA - which will be around 1383/85 tomorrow - where the 200day MA is also lurking.

I'm sitting back, patient..no point getting involved yet.


UPDATE 10.20am
Stupid stock move of the day so far...

FB, 7% or so

Fair value remains $4, but it has to be said from a chart perspective, its broken through a key gap level, that goes almost all the way back to the IPO. Understandably, some of the bull rats are now looking for $30 in the next few weeks.

back at 12pm