Wednesday, 26 August 2015

1pm update - teasing the bears?

US equities have continued to slip.. if slowly, for another hour.. with a new intra low of sp'1881. The smaller 15min cycle is offering a bullish signal on a daily close above 1890. Equity bulls can't be confident until some sustained action above the hourly 10MA.. currently @ 1909.




For now... there is little to add.. as the market continues to battle to hold the double floor.

Price action feels like the day after a war.... bears clearly won.. with a collapse wave from 2096 (last Wed' afternoon).. to 1867.

Yet we're still due a sig' multi-day bounce.

notable weakness, Gold -$14, with the miners following, GDX -4.8% in the $12s.

1.02pm.. Market breaking upward...   sp'1896.....   VIX cooling -6%... 33s.

1.36pm.. 15min cycle.. offering a provisional BREAK UP....