Friday 25 April 2014

11am update - continuing weakness

US equities are lower, but nothing 'significant yet'. Any break <sp'1860, will offer the best bear case of a gap zone fill around 1845. Metals are holding moderate gains, Gold +$8. VIX is higher by 8%, but that amounts to the 14.40s - not exactly 'market fear'.


sp'60min


Summary

We're now at the typical turn/floor time of 11am..so lets see if the bull maniacs can turn this around, and battle back into the 1870s by 1pm or so.
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Notable weakness, AMZN -9% at $304. If the 300s are lost, then 260/40, but that would be something of a surprise.
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VIX is trying to make a break for the low 15s


sp'1845 wit VIX 15s..and then a turn?
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11.07am... VIX +9%...seemingly headed for 15.25 or so...with sp'1850s.

11.27am.. market trying to put in a spike floor... bears...beware!

*notable strength in the Oil/Gas service sector...RIG already green, and set for the 44/45s.