Thursday, 6 August 2015

10am update - opening reversal

US equities open a touch higher, but there has been a clear opening reversal, with the sp' already breaking below the Wed' low of 2095. Despite repeated rally attempts, the bull maniacs look increasingly exhausted, and now it is merely a case whether the market will see a daily close under the 200dma (2072).




*opening reversal candle on the VIX... seemingly headed for the 13s. 14s would be 'useful' for the bears today, and would open the door to much higher levels tomorrow.

So.. we're off and running again... the 200dma is first target... although yes.. that looks out of range today. First real opportunity for that is tomorrow.. not least if the market decides 'good news is bad news'.

Q. Anyone wanna buy above sp'2100 ?  Thats right... I didn't think so.

meanwhile.. the destruction continues in Disneyland.

The mouse is going to be real pissed on a break under the giant $100 threshold. It seems the gap zone of 98/93 is going to be filled.