Tuesday 30 June 2015

1pm update - bulls running out of time

US equities have already turned fractionally negative, as more traders are starting to realise there will be no Greek deal, nor a payment to the IMF today. VIX has confirmed the equity weakness, with a new cycle high of 19.79. USD is building gains, +0.7% in the DXY 95.40s.


sp'15min



VIX'15min



Summary

Suffice to say... I am not chasing things lower from these levels. I want at least the sp'2075/80 zone. Of course, that might simply not occur.. if so.. I'll miss out. I can live with that.

There is arguably a double floor of sp'2056.. but broadly... price action sure doesn't look great right now.

So... lets see if this crazy market can yet ramp into 2/3pm...    
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back at 2pm