Friday, 8 January 2016

11am update - bearish sunshine to end the week

US equities are clearly struggling, as the underlying weakness - that began from Tue' Dec'29th (sp'2081) remains. The bigger weekly/monthly cycles are quite clear, we're headed broadly lower. VIX is battling upward from an opening low of 22.48. Oil is back on the slide, -0.6% in the low $33s.




*note the opening VIX candle.. of the red reversal doji type, at the top of yesterdays price gap.

A break above the Dec' 14th high of 26.81 won't be easy, and it would seem might need <1900.

So.. we were higher by almost 30pts in pre-market to around 1975... but we're now almost flat... and the threat of renewed weakness into the weekend is very high.

It should be clear, rallies ARE being sold into.

Meanwhile... here in London city..

A very sunny week for the equity doomer bears
time to cook :)

11.29am.. New cycle low.... as the selling resumes.

Interesting day.. with a swing from pre-market 1975 (approx) to 1937.. almost a full 2%.

A weekly close <1920 would make things real interesting.