Friday, 1 August 2014

2pm update - a break above hourly 10MA?

US equities are yet again attempting to rally.. this time from sp'1916.. with a VIX peak of 17.57.  Metals remain strong, Gold +$11, whilst Oil is -0.4%. Next looks to be a critical week, with key support in the 1900/1895 zone.




*eyes on the hourly 10MA.

If market can break >1930 or so.. then the down trend is probably over.. in the immediate term.

VIX <16.50 will confirm it.

I will consider an index short next Tue/Wed. in the sp'1955/65 zone, with VIX 14/13.50.

2.19pm...initial turn... break above the 10MA .. on our way to 1955/65