Tuesday, 18 August 2015

3pm update - holding above rising support

The sp'500 has held rising support @ 2094... and looks set to claw upward into the close. Rising trend is highly suggestive that by late Thursday the market will have been trading at least above 2115. VIX is holding minor gains of 6% in the 13.80s, having been unable to clear the 14 threshold.



Little to add.

We have a clear break above resistance yesterday.. and today... we've held above it.

Any daily close <2097.... is a clear break of trend.
<2094... a fail of the 50dma... and new intraday low...

so... lets see how another hour in this casino plays out.

notable weakness: DIS -1.9% in the $106s.. daily chart looks ugly to the big $100 threshold.. by end month.

3.06pm... Things remain very marginal.... but clearly.. no sig' downside today... its mostly weak chop.

VIX +7.0% in the 13.90s... .a daily close in the low 14 would be interesting, but still.. that is below key resistance (14.50s)