Wednesday 16 January 2013

2pm update - on the edge

Mr Market is so very close to breaking the key 1474 high, with VIX close to breaking into the bizarrely low 12s. Yet..volume is near zero, and there really isn't any catalyst to move the market either way.


sp'60min4' - retracements



vix'60min


Summary

Its really up to the algo-bots, do they wanna push it over 1474, cause a short-stop cascade, and run this nonsense into the 1480s ?

Often is the case, we'll see a stupid spike to the upside, before a real reversal back to the downside.

AAPL remains higher, but $505 is not exactly bullish territory, is it?