Tuesday, 12 January 2016

2pm update - baby bull flag

US equities continue to be choppy, remaining well below the early high of sp'1947. Price structure is a clear baby bull flag, with the 1950/60s probable tomorrow/Thursday.. along with VIX <20. WTIC Oil is battling hard to hold the $30 threshold, so far reaching $30.06.


R2K, daily


*fractional new cycle in the second market leader - R2K.

Despite a new low in the R2K, the broader market still looks vulnerable to new upside.

Price structure is pretty clear... we'll resume strongly higher tomorrow.. as bears trying to short the market today, will have to cover.

*amusing to see the cheerleaders on CNBC - not least Stephanie Link... even she admitted 'I don't have an idea why we opened higher'.

Yeah Steph'.. you just don't understand.... and no matter how sincere you look at the camera, I ain't buying GPRO or TWTR just because they lost the $20 threshold.

stay tuned