Thursday 30 April 2015

11am update - at least its not boring

US equities have completed an effective test of the 50dma of sp'2090. A latter day recovery looks probable. Metals remain extremely weak, Gold -$22, with Silver -3.5%. Oil is battling to hold moderate gains, +0.2% .


sp'daily5


Summary

So, a hit of the 50dma... but having taken out the Tuesday low of 2094.

Overall though, its probably the same old nonsense of early moderate weakness... only to conclude with a latter day recovery.

Its 11am... its time for a natural turn higher into the afternoon
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notable weakness, pretty heavy vol' in AAPL, -2.0%, having hit the $125s   

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I have eyes on the Euro... via FXE, which appears have put in a micro double top.

FXE, 15min


I've little interest in going long until the first gap zone.... seems viable late today... or early tomorrow.
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11.11am... Euro breaks a little higher... hmm...

Meanwhile... equity indexes are seeing the expected upswing.

VIX looks maxed out at 14.53.... which is of course still a bizarrely low VIX.


11.32am... Not even lunch time and the indexes are getting close to turn green.. .. with sp'2102.

A daily/monthly close in the 2110s looks very viable... along with VIX 13s