Tuesday, 7 July 2015

2pm update - indexes back to flat

US equity indexes have managed to claw their way to break even, with the sp'500 u/c @ 2068. A moderate wave lower.. probably into early Wednesday looks viable... but this morning's low of 2044 looks set to hold into August. Metals remain weak, Gold -$14, with Oil -1.9%.



Well.. its the 2pm hour.. we've seen a rather natural bounce from late morning.. now its a case of whether the bull maniacs can hold the earlier low of sp'2044.... into the close.. and more importantly... across tomorrow morning.

If so.. then its broad upside into early August... which will make for a rather interesting cycle setup for Sept/early October.

I remain closely watching INTC...

60min cycle

... I'm seeking a moderate wave lower to the $29.30/20s.... if not by the close.. then by 11am tomorrow. Either way, I ain't interested in chasing from the $29.70s. There is a very tempting upside price gap zone of $31.50/32.00, for August.

Today in the city.. breezy.. but mostly sunny...

stay tuned!

2.24pm.. minor down wave underway.....

Eyes on INTC ... $29.50s.... I'd like a moderately higher low in the 29.30/20s

2.47pm... Hmm... a spike high... sp'2075.... and things are starting to get a little crazy.

VIX -2% in the 16.60s.... more sporadic Greek news?