Thursday, 31 July 2014

Closing Brief

US equities ended the month sharply lower, sp -39pts (-2.0%) @ 1930. The two leaders - Trans/R2K, settled -1.6% and -2.3% respectively. Friday offers a very possible rebound, but there will be massive resistance in the 1955/65 zone.



*earnings due from GPRO, will be one to watch.

....and that concludes July, a month of general chop - 1991/52 zone... but breaking lower on the last day.

What to make of today? Difficult to say, although we now have a great many ugly daily charts, and some of the weekly cycles are also problematic (in terms of the broader upward trend).

Thanks for all the comments today.... its helped keep me awake.

Have a good evening

more later... on the VIX