Friday, 30 October 2015

3pm update - closing hour spooky weakness

US equities see an outright collapse wave from the new cycle high of sp'2094 to a near horrific low of 2084. Seriously though, a break under 2082 in the closing hour would be a minor victory to the bears.. and offer hope that the market has indeed maxed out.. with a natural retrace set to span 2-3 weeks.




... the last trading hour.. of what has been an absolutely insanely bullish month.

So.. lets see if we can take out the Thursday low of 2082.. with a weekly close in the 2070s. That'd be something.

Regardless of the exact close.. we're still set for a fifth consecutive net weekly gain.

notable weakness: DIS, -0.9%...

..updates into the close...  if we do break <2082.

3.03pm.. ohh the humanity... look at the declines!    We've taken out the Thursday low!

Next soft target.. 2080... then the 200dma of 2061.

3.09pm.. the 3 leader stocks, AAPL, DIS, INTC... relentlessly strong.. are all appearing to rollover...

notable weakness, BAC -1.7%...

3.17pm.. VIX +2.5% .. making a play for a minor net weekly gain in the 15s.

3.38pm... chop chop.. with sp'2084.. and VIX 14.95....

Just a touch of weakness into the monthly close... looks due.