Monday, 1 February 2016

11am update - remaining weak

US equities remain moderately weak, having seen an early low of sp'1920 - where first support of the hourly 10MA is lurking. It is notable that despite the Dow -170pts, the VIX only managed a minor gain to the 21.50s. It would seem the market is set for broad churn across the month.




*note the second blue candle on the weekly 'rainbow' chart. We will probably get another 2-3 of those before first real opportunity of another wave lower.

Indeed, the MACD (green bar histogram) is still at least four weeks from attaining a bullish cross. We'll likely see a critical FAIL to break back above the zero threshold in late Feb/early March.

**VIX saw a 'rogue print' of 23.66, and I am dismissing it as such.

I hear Draghi is talking this hour, and with Fischer this afternoon, equity bears are clearly under threat from any loose money talk from the central bankers.

notable movers..

TWTR +9%, but still only in the $18s.
NFLX +4% in the $96s

Here in London city...

Another day closer to summer, mild (12c), but real windy.

time to cook