Tuesday, 21 July 2015

Daily Wrap

US equities closed moderately weak, sp -9pts @ 2119, with the VIX +0.6% @ 12.33. Near term outlook offers at least the sp'2100 threshold.. where the key 50dma is lurking... however there is a 'fair chance' of the secondary gap zone of 2080 being filled... before upside resumes.




Suffice to say.... we have the daily MACD (blue bar histogram) cycles turning back... highly indicative of a short term peak of sp'2132... with VIX 11.71.

*I remain holding a small VIX-long position, seeking an exit in the 15s.

a little more later... probably around 7pm EST