Tuesday 19 March 2013

12pm update - minor snap lower

The indexes are seeing a minor snap lower. Yet, with the Fed announcement due tomorrow at 2pm, there is little reason why this market will do anything much..despite the ongoing unravelling situation in Cyprus.


sp'60min



vix'60min


Summary

Its a bit of a mess.

Minor moves so far today, nothing really of any use for trading. I'm certainly not going to bother to meddle in this nonsense today.

Target remains a final blue V up...to around 1575/80..on the markets 'relief' that QE will continue for a significant time to come.

I will short any such spike higher.
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VIX update, from Mr T.




VIX may have just maxed out in the low 15s, but we won't know for a few hours if thats the case.
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Tricky morning.
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UPDATE 12.50pm

Something I noted yesterday on my 'fair value' page...AAPL...its currently offering an initial fail at breaking declining resistance.


Not pretty !

back at 2pm