Friday, 29 April 2016

3pm update - the sun sets on April

Regardless of the exact close, all US equity indexes are set for significant net weekly declines. Despite some trend/support breaks, what will be critical for the equity bears, is for the market to put in a marginally lower high (<sp'2111) in the subsequent multi-day bounce - as looks set to begin at some point next week.


Nasdaq comp' weekly


*keep in mind, for a net monthly decline, we need sp <2059.74

Suffice to add... an interesting week, but really... the moves are still relatively minor, and we remain very close to recent multi-month highs.

I will only have renewed confidence that we've seen a mid term high @ sp'2111, if we see a daily close in the 2020s next week. That will not be easy, as there are a great many aspects of support in the 2040/30s.

More April showers... so I guess I should expect rainbows (and unicorns?) into the close.

yours...  ending the month on a positive note :)

RE: TVIX.. for those curious... I'm seeking 4.75/5.25 next week...

Will hold across the weekend

3.03pm.. for those in the mood for something different...

The communists protestors are out in force, as Trump is due to speak.