Tuesday 30 April 2013

Pre-Market Brief

Good morning. Futures are flat, we're set to open at sp'1593. USD is flat, precious metals are..flat...whilst Oil and Gas are moderately lower. The PMI number will be a key market mover this morning, so lets see if the bulls can manage to hit the next big level of sp'1600s.


sp'60min



vix'60min


Summary

Its the last trading day of April, so there will be some 'end-month' issues today. 
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The VIX is probably all the bears have left to tout. Hourly chart suggest VIX upside viable, and daily chart is certainly looking floored in the mid 13s..but no turn yet.

Given another 2-3 days, VIX should have at least a 'moderate chance' of 16/17.

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I remain short, and its getting...annoying.
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*opening the NYSE this morning...Tony Stark...of Stark Industries.

Figures.
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9.45am.. PMI 49.0  .... RECESSIONARY.      

Lets see how the market deals with that.