Saturday, 21 May 2016

Permabear Space

US equities ended the week on a moderately positive note, sp +12pts @ 2052, which made for a minor net weekly gain of 5pts (0.3%). Despite the gain, the market remains highly vulnerable to a significant move lower, the third since the May 20'th 2015 high of 2134.72.




re: weekly1b: a minor net weekly gain of 5pts (0.3), settling at 2052. Most notable, a lower high... and lower low. First resistance is the 10MA... around 2060. A break back into the 2100s looks out of range, not least as the market is (mistakenly) now under the belief the Fed might raise rates in June (or July)... and there is the looming BREXIT vote of course.

re: monthly1b: a May close under the 10MA - currently 2014, should be a target for those equity bears seeking major market upset in June.. and perhaps across many months ahead. It not absolutely essential.. but it sure would help instill some confidence!

Permabear Space

Four years ago I started this blog, having originated from the ERX board on Yahoo! finance. The only intention was to post once a week. Naturally, being the obsessive person that I am, it soon spiralled to eleven posts a day.

As of this post, I'm at 11,020, which is a pretty bizarre thought.

I have endeavoured to strike a balance between the 'end of the world' crowd at Zerohedge, and the cheerleaders of clown finance TV. Despite being self-titled 'Permabear Doomster, I think I've managed to achieve something more balanced than either of them.

Like the lead character in the movie Office Space, I don't want to have any bosses ever again. Nor do I want to do the daily commute ever again.

The point is... I want to do this for the long term.... a writer... and a trader.

I simply don't want, and can't imagine doing anything else. If I'm to continue though for many years to come, I need to derive at least some income to justify it.

If you think I'm worth around $1 a day... then subscribe to me. See HERE for details

Posts from next Monday

Subscribers @

Will have access to everything normally posted here from 8.30am into the late evening.

For those that don't wish to subscribe...

I will post after each trading @, with a 'Daily wrap' - compromising of a few indexes, the VIX, and probably some other miscell' bits and pieces.

The weekend post will also remain here.

For me, this is a major change, and a personal risk (although arguably less risky than being margin long the US equity market this summer/autumn). I sincerely hope some of you choose to subscribe in the days ahead.

Goodnight from London

*the weekend post will appear at 5pm EST, and will detail the US weekly indexes