Wednesday 9 September 2015

10am update - a bearish open, sort of.

US equities open higher, with an early high of sp'1988.. with VIX flashing to 21.51. The mainstream media are naturally getting calmer with each day, but then... they never see anything over the horizon (much like the Fed you could easily argue). AAPL opens higher.. but turns red... ohh the drama!


sp'60min



VIX'60min


Summary

*opening reversal candle in the VIX.. having hit primary target zone. I'd expect sub 20s next week.. not least if sp'2050.
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The building talk from the finance TV networks is increasingly laughable.

Endless talk of 'X index is out of correction territory'. Oh yeah.. those same maniacs were even lightly mentioning the possibility of QE4 just two weeks ago.

Now everything is 'fine with the world' according to them.

There is no mention - not that most of the cheerleaders would understand, of the critical trend breaks on the giant monthly cycles (US.. and all other world markets).

No.. for another 5-8 trading days or so... everything is going to remain just.............. fine.
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Notable opening FAIL... AAPL


*UPDATE... the black candle already turns red... pure comedy.
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A classic opening hourly black-fail candle. Frankly, if I see the $109s by late day, I'd not be surprised. However, I would not buy AAPL on such a drop. I'm leaving it well alone.... well, thats the intention.

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.. as for the 'bearish open'.. well...


In fact, could the NYSE be any more bearish?
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10.22am.. LONG Oil.. via USO.. 14.82       It is a micro position, and I remain very much in 'trading light' mode.. until after the FOMC.