Tuesday 22 April 2014

1pm update - the algo bot melt continues

Mr Market appears to be in algo bot melt mode, with the indexes crawling very slowly, but consistently higher each hour. Metals and Oil remain notably weak, Gold -$8, and Oil -1.6%. VIX remains crushed, battling for a daily close in the low 13s.


sp'60min


Summary

Little to add, on what looks to be the old algo-bot..upward melt.
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Weekly charts are offering the upper sp'1890s in the immediate time frame.

sp'weekly8


Nothing bearish there, unless we break <1814, and that sure doesn't look likely for some weeks.