Tuesday, 2 February 2016

3pm update - battling to claw upward into the close

The sp'500 is offering a short term floor of 1900, with a viable bounce into 'ADP jobs' Wednesday. It would seem we'll see a brief foray into the 1890/80s on Thurs/Friday, before reversing powerfully back upward next week. Broadly, the 1970s still look on track, along with VIX 18/17s.




Well, no doubt a few will be screaming for a straight run to break the Jan'20th low of sp'1812, but that seems extremely unlikely.

The bigger weekly cycles continue to favour the equity bulls - at least in terms of a few more weeks of chop... NOT sustained action >2K.

back at the close