US equities continue to see some chop, but the sp'1925 low is holding so far. VIX continues to cool, -5% in the low 16s. Metals are strong, Gold +$12, whilst Oil is again weak, -0.6%. First upside target remains the sp'1955/65 zone, with VIX 14/13s.
So... some Friday morning chop....
With yesterdays big break of support.. there are some huge issues to consider this weekend...
A major problem for the bulls are that the monthly cycles are now rolling over..and the Dow is now negative MACD cycle... first time since late 2012.
Ugly chart.. to start the month.
11.34am.. so much for 1925..... with 1923 and VIX 17s.
Bad end to July for the bulls.... August isn't starting so great.
time to shop...........