Thursday, 7 January 2016

12pm update - another bear flag... probably

US equities are seeing increasing chop, in what is almost certainly the creation of another bear flag. The earlier low of sp'1954 is not likely a capitulation low, and the 1920/00 zone looks highly probable.. whether tomorrow.. or next Monday.




The gap fill to 1954 is interesting, and normally, that would make for a very natural low... but it does still feel like we'll see at least another major wave lower to wash the market out.

*I am somewhat bemused how the suspension of circuit breakers in China is now being twisted as a positive thing for stocks.

Am I really the only sane one on planet crazy today?

VIX update from Mr T.

time for lunch