Monday, 31 August 2015

10am update - increasing weakness into the monthly close

US equities open moderately weak, with the hourly cycle offering increasing downward pressure into the Monday/monthly close. Primary downside target is the sp'1945/30 zone.. which will equate to VIX back in the 30s. For the bull maniacs... it has been a rough month.



*Chicago PMI 54.4... non-recessionary, and nothing for the macro-bears to get excited about.

Suffice to say..  hourly MACD cycle is set for a bearish cross within the next hour or two.

I've eyes on AAPL

*yes, the fib retrace on the chart is unconventional, but I think its more fitting.. and ignores the opening Monday flash crash print.


I'd like to go long in the 109/108s. That seems possible, despite AAPL holding up relatively well so far.

time to cook