Monday, 13 July 2015

2pm update - baby bull flag

US equities are holding onto most of the gains built in early morning. Price structure is a rather clear baby bull flag, and is more suggestive of upside early Tuesday.. than weakness to sp'2085/80 zone. In either case, market looks set to battle broadly higher into August.



Little to add.

Threat of moderate downside... but broadly... this market looks okay for a few weeks... as particularly supported by the VIX which probably will remain subdued into August.

notable strength: NFLX +4.6% @ $712.. breaking the Icahn 'sell' high.

The momo chasers can't help themselves... as it is, the stock will be trading around $100 at the Wednesday open.
back at 3pm