Friday, 28 August 2015

11am update - remaining somewhat weak

US equity indexes remain moderately weak as the market is battling it out into the weekend. The longer the bulls are unable to break new bounce highs >sp'1989, the more probable it is that we have a short term high and are merely seeing some churn before a snap lower... before the close.




Little to add.

Hard to discern whether a short term top is in... market looks stuck right now... with the hourly cycle offering increasing downward pressure into the weekly close.

I've eyes on AAPL, -0.7% in the $112.10s.  I've no interest in picking up again unless 109s.

notable strength: INTC, +2.6% @ $28.45...

11.30am.. marginal new cycle highs.. .so... the retrace clock resets...124pts.. and rising