Wednesday 29 July 2015

1pm update - one more quiet hour to go

US equities are holding just above the sp'2100 threshold... with VIX in the 12.75/13.25 zone. From a pure cyclical perspective, the hourly equity/VIX cycle favours the equity bears. Clearly, a daily close back under the 50dma of 2100 is important... along with VIX 13/14s.


sp'60min



VIX'60min'2



Summary

...little to add.

*for the record, I still think we will see some equity weakness after the fed press release.. and into the close.
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back.. just before the Fed announcement.