Thursday 12 December 2013

3pm update - battling upward into the close

It could easily be a bit of a choppy and mixed mess into the close. The bulls will be battling for the upper 1780s..whilst bears should be desperate to claw back under 1780. All things considered, it looks like we have a floor of sp'1772... a C- wave floor.


sp'60min


vix'60min

Summary

*clear break of trend on the VIX
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I'm somewhat drained by the last two days..if I drop off...you know why.
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Suffice to say...things...look....on track.   Updates into the close...as best I can


3.16pm..for those closely watching, looks like market is testing the A wave low of 1779 !

Equity bulls should gun for a close in the 1785/87 zone, that opens up the 1800s tomorrow.


3.24pm.. did we close yet? I'm tired.  

Notable strength: FB +5% in the 52s,  TSLA, TWTR,  all the momo stocks are starting to surge.


3.33pm.. look at those momo stocks fly, lol  TWTR +7% in the 55s. At this rate it'll be 60s by the FOMC !


3.43pm.. a touch of weakness, but we're a good 6pts above the earlier low, and the VIX looks set to close..RED.   Bears...beware!


3.50pm.. Bears getting a bonus chance to exit in the 1770s.

5min micro cycle close to flooring. There can be no excuse for any whining tomorrow!