Tuesday, 17 May 2016

11am update - extremely borderline

Equity price action remains moderately weak. If equity bears can't keep pushing lower, the sp'2085/90 zone will be back on the menu... before next opportunity of a break <2039. Broadly though.. this market has a firm ceiling at the 2100 threshold.




The first two equity hourly candles of the day are offering floor spikes... and that sure doesn't bode well for the bears.

VIX remains broadly subdued, and is clearly still reflecting a market with zero concern of anything in the near term.

Regardless of the short term noise though... the bigger weekly cycles are STILL swinging back in favour to the equity bears. That view only gets negated on a move >sp'2100

notable weakness.... AMZN, daily

Have added AMZN back to my main watchlist, and will chart it across the summer... as I think it will make for some fine entertainment. I'll be sure to tweet Ms. Link when AMZN breaks the Feb' low.. which seems highly probable at some point this summer/autumn.

time to cook