Wednesday 12 August 2015

2pm update - new highs.. or just a bounce?

The current situation is pretty clear... either this move from sp'2052 to 2077 is a mere bounce.. or a grand new multi-week up wave has begun. Considering the weekly/monthly charts - which have been warning of trouble for months... I remain inclined to the bounce view.


sp'15min



Summary

*standing by to re-long VIX... in the 14s.

Considering I exited at 16.20 this morning.. I'm very content with the current setup.
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Meanwhile... in the city... feels like summer is indeed winding down.


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updates across the hour...


1.52pm.. LONG VIX from 14.42....  with sp'2076.

Am I overly early again? Hmm....

VIX has filled the opening gap.... back amongst old (Broken) resistance in the mid 14s.


I'd like to see a daily close in the 15s.
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2.03pm.. Even with VIX in the mid 14s.. daily candle is still green...



Eyes on 15 at the close.
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2.22pm.. sp' seems stuck at the 50% fib retrace of 2078.

A close in the 2060s would be really good for the bears... and that'd give VIX 15s...    with 97mins left of the trading day.. that is enough time to drop 7pts.
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notable weakness:  BAC, -2.6%.. as the threat of int' rate rises is fading