Friday, 29 April 2016

11am update - 2050s later today?

US equity indexes remain moderately weak, but are seeing a natural bounce from the gap zone of sp'2061/65. VIX has cooled from an early high of 16.45 back into the 15s. Broadly, the market still looks headed to at least the 2040s - which will likely equate to VIX 18s.




Not much to add.

A natural bounce.... now its a case of whether renewed weakness into the important monthly close.

The 2050s would be 'useful'.... and open up the 2040s next Mon/Tuesday.

notable weakness... AAPL, monthly

Seen on the giant monthly cycle, AAPL is sporting a truly horrific April candle. Bearish engulfing, unable to clear the 10MA.  Target remains $70.

*related stock... QCOM.... similarly ugly.. target is $30.

time for some sun.. or rain.... back 12pm