Tuesday, 29 July 2014

3pm update - minor chop into the close

US equities look set for further minor chop into the close.. ahead of what will be a very important Wednesday. Metals remain weak, Gold -$5, whilst Oil is moderately lower, -0.7%.



Earning at the close: TWTR, AXP

So much for the micro bullish pennant.. with that failing.. yet another snap lower.

A somewhat tiresome day...  I don't expect much in the closing hour.

Equity bears have a 'fair chance' at the low 1960s tomorrow morning, but new historic highs look likely shortly after.
R2K battling to hold gains of 0.5%

3.29pm.... From a bearish perspective, the cycles are BADLY setup for tomorrow.

5/15..even the 60min cycle are not particularly good for anyone holding short overnight.

There is sig' risk of a gap right into new highs at the Wed' open.

3.43pm.. King O' speaking live on Ukraine..... not exactly helping the market mood.... morning low taken out.. sp'1972.

Let me be clear though... the setup for the bears tomorrow is 'technically' a lousy one. 

Sure we could open Dow -75/100pts...but I'd not expect it to last...but then, that has been the case for many...many months.