Thursday, 24 September 2015

Pre-Market Brief

Good morning. US equity futures are starting to unravel, sp -13pts, we're set to open at 1925. The door is opening to a test of the 1900 threshold today. Further downside to 1867... and 1820 looks probable next week.




*I strongly suggest anyone watch the Oscar video I highlighted in the previous post. I realise many of you can't stand the overly loud Mr C.. but he makes MANY of the points I am standing by. The implications are important.

So... we're set to open lower... and cyclically.. everything is setup in favour to the equity bears.

Daily equity MACD cycle could see a bearish cross today.. with the VIX seeing a bullish cross. Both offer a further FULL week to the equity bears.


Overnight Asia action...

Japan: back after the break, opened sharply lower, unable to recover, settling -2.8% @ 17571

China: +0.9% @ 3142...  vain attempt to hold together... it won't last. Sub 3K is due.

Have a good Thursday :)

7.21am.. sp -18pts, 1920.. things are starting to get significant.

Lets see how low the market can fall by around 11am. I would prefer to drop a few positions by late morning, and re-position in the afternoon. However, there is HIGH threat we'll just fall across the entire day.

8.31am Durable goods orders:  -2.0%, m/m

weekly jobs, 267k.... inline.

sp -16pts @ 1922.

*I am concerned of a possible intraday floor around 11am... somewhere around sp'1915/10...which should equate to VIX 25/26.

9.13am.. sp -16pts... 1922....  viable downside to 1915/10 by 11am... with VIX 25/26s.

Yellen is due at 5pm EST.. and yes.. that might be an issue for the Friday open.

9.27am.. Eyes sharp.. on the 5/15min cycles this morning.... along opening VIX action.

*notable weakness, Oil -1.1%

9.34am.. weekly 'rainbow' candle.. turns RED

.. and that is a rather bearish signal for next week.

9.45am.. EXITED INTC-short... minor gain.