Friday, 21 August 2015

2pm update - sunshine into the weekend

US equities remain very significantly lower for the second consecutive day, with a new intra low of sp'2090 (last seen Feb' 2nd), with VIX climbing to 24.49. The smaller hourly cycles are still nowhere near offering a provisional turn, if that does occur next Monday... a bounce will likely last into Wed/Thursday.




*seen on the bigger weekly cycle, today's VIX is the highest level since last December... and is clearly ahead of my original schedule.

... back from a rather glorious summers evening in London city

Field of birds

Bullish blue skies
Bearish shadow
As for the market... with yet another marginal new low of sp'1990.. we still have ZERO clarification of a floor.

With the Dow already hitting the 16600s.. the next level is just a little lower in the 16500s

dow, weekly2

For the ultra cautious bulls, the next big buying level is around 16000, which is where the lower bollinger on the giant monthly cycle is.

Incredible week... and I'm of the view this is just an initial break... not the main down move.

stay tuned :)