Monday, 2 May 2016

12pm update - awaiting another rollover

US equities remain moderately higher, and it seems just a matter of how many hours until the next rollover. In theory... the next down wave should at least break into the sp'2045/40 zone. Things really only get interesting with a break under the two soft lows of 2039/33.




*the spikes on the two most recent hourly equity/VIX candles are marginally interesting.

Not much to add... as we're still set for lower levels this week.

I realise some will tout 2052 as another higher low (which it currently is)... and will be understandably be seeking >2111 within the next week or two. Equity bears sure could do with a daily close in the 2020s later this week.

notable weakness... TSLA, daily

TSLA is one of many momo stocks that just can't break a new high, next support are the 50/200dmas in the 227/226s.. and that is another 3% lower.

time for tea