Wednesday 2 October 2013

10am update - morning tease

The main indexes open lower, but if the bears fail to break back under the 50day MA - sp'1679, then this morning is almost certainly just another tease, before renewed gains. Equity bulls should be battling for a close in the low 1700s.


sp'60min



sp'daily5


Summary

*VIX +6%, in the 16.50s, but that is a full 1pt below the spike high of Monday when market concern was indeed much broader.
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Mr Market sure loves to tease, and baring a break back into the 1670s, I'm guessing that is exactly what this mornings open is.
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notable early movers: STX, +1.3%..which is indeed very impressive considering the main market.



STX starting to fly...and even the Cramer (somewhat to my horror) mentioned it on morning clown TV.