Monday, 4 January 2016

11am update - the bigger bear flag

US equities remain severely lower, with the sp -44pts @ 1999. There are multiple breaks of support on the bigger daily/weekly cycles. First soft target is the sp'1920/00 zone... and that will probably equate to VIX 31/33. Gold is catching a fear bid, +$17, whilst Oil +1.4% on middle eastern tension.




*reminder, I'll post the 2016 outlook later this evening... which partly relates to weekly8b chart.

Indeed... just look at the daily chart... a very ugly start to the year.

The bigger weekly cycle was offering a giant bear flag...and we've broken that today. With other world equity markets clearly on the slide, there can be high confidence in the US bear flag.

Meanwhile, in London city...

Feels damn cold today... but still.... next to zero chance of snow until late Jan'

time to cook

11.20am... Oh lookie...

The first Fed official of the year

First attempt by PRINT HQ to 'calm the market'. lol