Thursday 2 April 2015

10am update - mixed open

Equities open a touch lower, but are now broadly holding moderate gains, with the sp +0.5% @ 2070. A weekly close in the sp' 2070s would seem unlikely though, not least ahead of the 3 day holiday weekend. Metals and Oil are both trading flat.


sp'60min


sp'daily5


Summary

*VIX is naturally cooling, -4% in the 14.40s, but will probably rise into the close, ahead of the Friday jobs data.. when market is closed.
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So... some gains, but I can't see them lasting into the close.

More likely... a flat close, which will make for a minor net weekly decline.

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Notable strength: TSLA +2.1% in the $191s.
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10.01am.. factory orders +0.2%... but that is not exactly inspiring.

Metals are snapping lower... Gold -$6... which is especially weak, since the USD is very weak, -0.6% in the DXY 97s.
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10.34am.. Market unable to claw above 50dma of sp'2073.

Indexes cooling.....  after all, who wants to hold long across the 3 day weekend?