Tuesday, 21 July 2015

Quiet start to the week

It was a quiet start to the week for US equities, with the sp +1pt @ 2128 (intra high 2132). A retrace remains due, at least sp'2100, with the lower gap around 2080 looking difficult to reach. Regardless of any weakness this week, there looks to be broader upside into August.



The weekly cycle is offering the 2140s in the immediate term. 2150s look out of range until late next week. By mid August.. the 2160/70s will be viable... 2180/90s on a 'hysteria spike'.

I'm still guessing we will first see a moderate multi-day retrace.. at least down to the sp'2100 threshold.

Looking ahead

Tuesday.. has nothing of significance scheduled.

Special note...

My next post will be no earlier than 3pm EST for the Tuesday closing hour.

If no appearance tomorrow, then I'll endeavour to return for the Wed' closing hour... probably,  ;)  Maybe I will explain more... tomorrow afternoon.. if I'm available.

Goodnight from London