Monday 23 March 2015

12pm update - weakness in the old leader

Whilst the broader market is seeing some mixed chop, there are significant declines of -1.4% in the Transports. No doubt higher oil prices (+1.6%) are an issue today, but it is notable that the Trans has been stuck since the spiky black-fail candle (Trans @ 9310) of Nov'28th.


Trans, daily


Summary

Other than the weakness in the Transports, it remains a pretty dull start to the week.

VIX is higher by around 3%.. but remains in the very low teens.

Notable gains, Ford (F), +1.2%, daily


Key resistance remains the $18 threshold. A monthly close in the 18s would be hyper bullish, but that looks out of range until mid summer... when the main market might be maxing out (at least for a little)

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VIX update from Mr T... who needs to adjust his mic.



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time for lunch