Friday, 27 June 2014

2pm update - minor weakness

It remains a messy day of not much. US indexes are vulnerable to minor weakness into the close - as supported on the hourly/daily cycles. Primary 'best bear case' downside is a refined sp'1942/37..which seems viable next Monday. VIX is creeping higher in the low 12s.


sp'60min


Summary

*I've marginally redrawn the down channel on the hourly.

Best case for the bears...1942/37...which of course is barely 0.6% lower..not exactly exciting huh?
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From there, upside into the July'4 weekend..and probably into the week of July 14-18.