Friday, 28 August 2015

1pm update - awaiting a trend break

US equities are a touch lower, sp -2pts @ 1985. If sp'1993 is a short term peak of the hyper bounce from 1867, a 'fair and realistic' retrace would be to the 1945/30 zone, no later than Wednesday. VIX is holding minor gains of 1.6% in the 26s. A move back into the 30s looks due in the first half of next week.



Little to add.

There is a clear upward trend, as of 1pm.. market just needs to break <1985 to break trend.

time for some sunshine...

1.30pm... provisional BREAK of the upward trend.

A move under the morning low of 1978 would confirm it.

1.37pm. NEW lows... solidifying 1993 as a short term top.

More the cautious bear money will start shorting now.

yours.. waiting for 1945/30 to go long   (yeah... I realise the irony.... but I am holding to my rules!)