Monday, 9 November 2015

12pm update - bearish signals

US equity indexes are significantly lower, with the sp'500 headed straight for the 200dma (2063). The 2020s will  make for a very natural retrace within 4-6 trading days. Oil remains notably weak, -1.3%


USO' daily2


*note the MACD (blue histogram) cycle... having now turned negative. Most indexes will be negative by tomorrow.

A bearish MACD cross is always an important signal.. and by default... the current short term trade is to the short side.

All talk of the sp'2120s and even new historic highs is fading across the blogosphere.. and even the mainstream are (amusingly) a little concerned.

Best guess remains... the 2020s... that seems a very viable target.. before resuming higher into December.

VIX update from Mr P.

time for lunch