Wednesday 6 August 2014

12pm update - battling upward

US equities are holding moderate gains, having seen a very clear opening reversal. A five  wave decline from 1991 is complete.. with a floor of 1911, as reflected in a minor VIX divergence. We're headed higher...


sp'60min


VIX'daily3


Summary

*I am long from sp'1912
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So..we're higher, and a break into the 1930s will arguably be the last confirmation needed that a floor is indeed in.

Bulls should be able to manage the 1960s within 3-5 trading days...and I'll be content to ride that wave higher.

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VIX update from Mr T.


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time for lunch..or something


12.30pm... Notable strength...in the R2K +0.7%... 1130s.... need the 1140s to really clarify things... 2 spike floors..looking okay though.