Thursday 16 July 2015

11am update - moderate gains

US equities are holding moderate gains, having broken a new cycle high of sp'2121, a mere 13pts shy of a new historic high. VIX is attempting to floor from 11.97, a daily close in the 13.30s or higher would be some hope to the bears that the market will cool (at least somewhat) into the weekend.


sp'60min



VIX'60min


Summary

*keep in mind... Yellen is due this afternoon at 2.30pm EST, and that will likely continue after the market close.
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Well, its the 11am hour...  its getting somewhat tiresome again, with the market higher for the 5th of 6 trading days.
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notable weakness (at least relatively), INTC, +0.9%, having already come close to turning negative.

Hyper strength: NFLX +13% in the $111s.. that would be the $770s in old money. I guess a PE of 450 is still too much of a bargain for some to pass up.

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time for an early lunch
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11.14am..  and INTC turns red... in the $29.60s. An ugly failure from the AH high in the low $32s.