Tuesday 8 July 2014

12pm update - floored at 1960.... probably

US indexes remain weak, with notable declines in the R2K, lower by another -1.7%. However, there are multiple aspects of support in the low sp'1960s, and a break into the 1950s seems somewhat unlikely.


sp'60min

Summary

Well, all things considered, we probably have a key floor here in the low 1960s.

No one can whine about this...

Bears are getting a chance to exit...

Bulls are getting the opportunity to buy somewhat cheaper.. especially in the airlines and some of the momo stocks.
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Video update from Riley


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VIX update from Mr T.


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time for some ice water.


12.19pm.. so much for 1960.....  next support 1958/57..

Regardless, equity bears are getting a real opportunity to exit here.

VIX +10% in the 12.50s.... 13s still look tough to hit.


12.30pm.. back to 1961.... hmmm    Bears are very vulnerable here... esp' those short the R2K.