Thursday, 9 July 2015

3pm update - not so pretty

US equities remain moderately higher, but the closing daily candles are looking pretty ugly. The morning high of sp'2074 is a clear 1% higher... and the VIX is back in the mid 19s.. .threatening a serious break above the key 20 threshold.




*price structure on the smaller 60/15min equity cycles remains a bull flag.. but that is perhaps stretching it. From a pure cyclical perspective... the threat remains to the upside.

What should be clear.. this market remains very vulnerable to sporadic Greek headlines... and along with many others, I'm starting to get real tired of it. The Greeks have a great deal to answer for.

Those on the long side had better hope China has a net daily gain tonight...any sig' renewed weakness would be a real problem.. as the 3K threshold would be next natural downside.. and that is a full 20% lower.

notable weakness, INTC -2.0%... having lost the key $29 threshold.

yours... burning out.