Thursday, 6 August 2015

2pm update - sunshine on a bearish day

US equities remain broadly weak, with an intra low of sp'2075 (with VIX 14.25). The bigger daily/weekly/monthly cycles continue to swing in favour of the equity bears, and lower lows look due tomorrow.. and into next week. Oil remains notably weak, -1.6% in the $44s.




... not surprisingly, we're seeing some of the dip buyers appear. After all.. they believe a floor is in.. and the 200dma will hold.. as it did in the previous cycle.

Considering the daily equity/VIX MACD cycles... those buying this afternoon, will probably be facing serious problems tomorrow.

notable weakness: 

DIS -3.3%.@ $107s
TSLA -9% in the $244s
As for the sunshine...

Somewhat less traumatic than trading the US market

back at 3pm