Friday 8 November 2013

3pm update - QE fuelled closing hour

The pre-market futures of sp -8pts in the upper 1730s now seem a hazy memory. It would seem the bull maniacs are going to close today with the weekly charts remaining outright bullish. Metals have recovered a little, with Gold -$18. VIX looks set to close the week in the 12s.


sp'weekly8


Dow'weekly


Summary

Even the Dow - lagging for months, is currently showing net weekly gains.

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The hysteria that is TWTR...continues to look weak into the close, -5% in the $42s.

updates..into the close....


3.23pm... TWTR in trouble..even of losing the $40s today.



Main market..generally flat lining in the low 1760s...
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3.32pm... look for Mr Market to whack the VIX lower in the closing minutes..along with a possible micro-ramp in equities.

TWTR..40.90...certainly within range of losing the 40s by the close.


3.44pm...sp+20pts...no doubt some bears will be throwing bricks at their screens. I can't blame them. We're just 3pts shy of negating ALL of the Thursday drop.

Whilst the headline indexes build gains, the R2K looks stuck..with gains of 1.9%

3.52pm..nastiest..market....imaginable.

Only another 4-6 months (I guess) until the current multi-month wave concludes..  Back at the close.