Monday 6 July 2015

10am update - opening declines

US equities open moderately lower, but notably.. still holding above the 200dma of sp'2055 or so. USD is holding moderate gains, +0.3% in the DXY 96.40s. Metals are failing to capture any kind of flight to safety/fear bid, Gold u/c. Oil is exceptionally weak, -3.9% in the $54s.


*stockcharts is FAILING to update... hopefully it will not be broken for the whole day. However I can still draw on my charts though!


sp'daily5


Summary

A relatively subdued open.. considering the news. Are the China govt' trying to buy the US market too?
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More than anything right now.. VIX has rapidly cooled from the open. No doubt.. the opening candle is now a giant black-fail.. with an opening spike high of 18.95.... now 17.50.

We saw a sig' 20pt upward swing last Monday though... and that day didn't end so well for the bull maniacs (sp -43pts).
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notable weakness: CHK -2.9%, BTU -7.5%... energy sector naturally having serious issues.

strength - airlines, DAL +0.5%, UAL +2.8%

Long day ahead...
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PMI service sector: 54.8... a touch weak... but broadly... favours the bulls

ISM service sector:  56.0   , market was seeking 56.0.. again.. and something for the bulls.. esp' in terms of GDP projections.
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10.06am.. So err... who wants to go long at sp'2066?

Thats right, I didn't think so.
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Uber bull... Mr Lee makes an appearence...


It still amuses, Lee was most upset last week at one of the lunch time analysts who said he is never bearish, lol
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10.24am.... sp -7pts... 2069... almost a full gap fill.... latter day weakness.. BELOW the morning low looks due.

notable weakness, Seagate (STX) -2.4%...
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10.31am Stockcharts.com remains broken..  and its starting to annoy me.

sp -5pts @ 2071.

Typical turn time remains 11am..... and I would imagine we'll roll lower from there....  much like last Monday.
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10.46am.. Hell... indexes flat/turning positive. I expect a bounce - like last Monday, but even this is starting to surprise me.  VIX confirming... -0.7% in the 16.60s, a full 2pts from the opening high.

Regardless... 11am remains a usual ceiling