Tuesday, 3 May 2016

1pm update - where are the dip buyers?

US equities remain broadly weak, and are still well within range of breaking the Friday low of sp'2052 before today's close. A test of the 50dma - around 2040/38, looks highly probable in the near term. VIX is +7%.. and is still relatively low in the 15s.




Little to add.

Now its merely a case of whether we close weak... or see another dumb closing hour ramp like Friday. Considering the bigger daily/weekly cycles.. we should lean weak.

notable weakness.... STX, daily

Ugly as hell... now under the psy' level of $20...  the $10/7s look due.. if sp'1600s.

time for some sun.... back at 2pm