Tuesday, 15 July 2014

3pm update - clawing higher into the close

US equities look set to claw higher into the close. With new historic highs in the Dow/Trans earlier this morning, equity bears have little to tout, not least with a VIX that is set to close moderately lower. Notable weakness in Oil and the precious metals.




*VIX is a bit of a mess, but looks to close somewhere in the 11s.

Today has been arguably just another minor tease to the bears. Opening minor gains.. a little down wave to the typical floor time of 11am... and then some degree of latter day recovery.

With the Dow/Trans breaking new highs earlier today, I won't take ANY weakness seriously..

Notable strength: DAL, +1.9%, but more on that one..after the close.

3.20pm.. very minor chop..with some inclination to the upside.

Dow is green, with a VIX +1.5%.. but the latter is still highly susceptible to being whacked lower in the closing minutes.

3,34pm.. .baby bull flag on the micro 5/15min cycles.... bullish into tomorrow... the setup is just like yesterday.