Wednesday, 6 April 2016

12pm update - spring time showers

US equities are moderately higher, and the post FOMC-minutes setup, will now favour the equity bears into the close. Nothing has changed (not least in Oil), and the market still looks on track for (at min') a test of the 200dma.. around sp'2015 - with VIX 18s, within 2-3 trading days.




*notable price gap zone, 2062/66.

No doubt some of the equity bears are getting spooked.. with fears of new cycle highs (>sp'2075).

That still seems increasingly unlikely, as we have so far only cooled 33pts from the Friday high.. and that barely rates as a minor retrace.

Price structure might be offering a bear flag/pennant by the close... and Thursday should see renewed significant downside.

Here in London city

Sunny.. but with showers... and with a strong wind, it feels kinda icy!  It sure ain't summer yet.

time to cook