Friday 9 January 2015

11am update - time for a late morning turn

US equities continue to slide, but its the typical turn time of 11am.. and considering the previous two days.. the market is due to turn back upward. VIX is higher, but only +5%... and still looks vulnerable to closing red.. in the 16/15s. Oil remains weak, -1.8%


sp'60min


VIX'15min


Summary

An interesting opening 90mins.. but really. anyone seriously want to get overly bearish here?

Arguably, it is merely a 'last ditch' place for remaining shorts to exit.. and for anyone who wants to get long.. to jump aboard.. for opex week.
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Notable strength: Seagate (STX) +1.1%