Monday, 9 November 2015

3pm update - a probable close in the 2060s

US equities remain broadly weak, and considering current price action, further weakness into the close looks due, with a daily close in the 2065/60 zone.. where the 200dma is lurking. For the equity bears, it is a race.. the faster the decline.. the better opportunity for a hit of the 2020s.




*price structure on the smaller 15/60min equity cycle is a baby bear flag.

So.. we're going to get the fourth consecutive net daily decline for the sp'500.

Ohh the humanity, is it time for talk of QE4 to resume yet?

Seriously though, the sp'2020s look on track, and unless you think the end of the world is due (in which case.. why bother trading anyway?)... another buying time will be fast approaching.

Eyes on the VIX, a daily close in the 17s would be useful, and offer 18/20 tomorrow.. with a break to the 2050/40s.

back at the close...