US equities are offering a provisional floor of sp'2046, with VIX 18.10. The Dow has got close enough to the 17000 threshold @ 17067, to merit an increasing probability that today was near term capitulation.. ahead of Friday opex.
There is no clarity yet.. even on the smaller hourly cycle... but best guess is that we've floored.. in the target zone.
notable weakness: DIS -5.1%
I have ZERO interest in trying to trade an equity bounce into early next week.
Instead, I am on the sidelines, and will endeavour to wait for a re-short next Mon/Tuesday, somewhere around the 2075/80 zone.
As many of you are well aware.. I am usually one to re-short too early. So, if I'm hitting buttons next Mon/Tuesday, perhaps that means a better time is Wed/Thursday?
The London skies are matching my mood today.. and certainly... of the broader capital markets.
back at 3pm