Monday, 7 July 2014

12pm update - moderate weakness

US equities remain moderately weak, with the sp' -9pts in the mid 1970s. Price action remains relatively strong though, and at best.. the equity bears might manage a gap fill in the low 1960s.



There is little to add. Hourly cycles would allow minor downside into Tuesday, but there remains no real power on the downside.

The R2K is a much more significant -1.5% lower, but then.. it was up 12% in past 2 months.

VIX update from Mr T

time for a cool drink