Thursday, 29 October 2015

11am update - increasing downward pressure

US equities remain only a little lower, but price momentum is in the process of turning toward the bears. Net daily declines look due. Equity bears should be seeking a break of soft rising support.. with a daily close <sp'2075.. along with VIX 16s.




Suffice to add... the market has seen a few vain attempts to break back upward.. but is failing.

It would appear just a matter of when we get the first sig' net daily decline... although unlikely today...

First target is the 2020/00 zone... where there are all manner of supports.

Eyes on the VIX...  which does have a VERY clear fed day spike-floor of 12.80. We ain't likely going that low again until December.

notable weakness...

F, -2.1%.
INTC -1.7%
TWTR -5.5%.. as the momo chasers bail... once again.