When you strap on the Vive, you get a quality headset that, if it alone were its selling feature, would be good enough to be up there with the rest (my glasses fit underneath more comfortably than with Oculus or Morpheus). But once you start walking around, it's a bit of an "Aaah, okay, this is what VR is supposed to be" moment. The ability to stroll around that 15 x 15 ft. space makes other headsets, with all due respect, look a little last-gen.

If HTC and Valve can launch the Vive with at least a solid software library, this is the one to beat. The free-moving element is that big a step forward – and that well-implemented.

Our first Vive demo had us walking around the deck of an underwater shipwreck, watching various sea life swim around us. This one was only mildly interactive, but the sense of immersion (feeling like you're present in the virtual world) was the highest we've experienced. The two controllers I was holding gave me "hands" in the virtual world, and I could walk freely, exploring as I would as if I was really there.

The Vive removes an obstacle to tricking your brain that no other headset is removing. Walking around a space makes it feel even less like you're playing a video game, and more like you just quantum-leaped into another place.

Eoin Treacy's view

Virtual reality is a rapidly evolving sector where competition between products is already heating up despite the fact they are not yet commercially available. When I talked excitedly with my nine year old about virtual reality two weeks ago she was dismissive telling me CupQuake already has an Oculus Rift so it’s not new. To Such is the immersive media experience of today’s children.  Nevertheless, the race is on to develop games for the upcoming release of headsets and the success or otherwise of platforms may depend on exclusivity to a given platform. 

HTC and Valve (which is privately held) have made sacrifices in terms of space and wired headsets in order to generate a wholly immersive experience. Facebook, with Microsoft, and Sony have a different vision and are sticking with a console based approach. 

At present Facebook looks to be the favoured play on the sector. The share continues to hold the breakout to new highs three weeks ago and has found support in the region of the 200-day MA on successive occasions for more than two years. 

Microsoft firmed today from the region of the 200-day MA but will need to improve on that performance to break the short-term progression of lower rally highs and suggest more than a temporary return to demand dominance. 

Sony has unwound its overextension relative to the 200-day MA and bounced this week. A sustained move below ¥3200 would be required to question medium-term scope for additional upside. 

HTC posted an impressive bounce on the announcement that it would be releasing its product in time for the holiday season but has since dropped to new lows suggesting the market is not convinced the company’s offering will be the market leader. The share steadied today in the region of TWD67 but needs to post a higher reaction low and break the progression of lower rally highs to signal a return to demand dominance.