Tuesday, 2 December 2014

2pm update - awaiting a rollover

The smaller 5/15min equity cycles are arguably maxed out, at sp'2065, with VIX -7% in the 13.10s. With the USD holding gains of 0.8%, commodities remain under pressure. Gold -$14, whilst Oil is -2.3%.


sp'15min


sp'60min


Summary

*yes, the bear flag is borderline right now. Need a break lower of 7-10pts by the close..
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Overall.. its getting a bit tedious again, and that is just one of the reasons I have zero interest in trying to trade the smaller down cycles. To me.. seems a waste of time.. not least whilst the broader trends are higher.
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Notable weakness, oil/gas drillers (as usual)... RIG and SDRL, both -2.7%


2.32pm.. Market stuck.... still set to break lower into the close.

The one aspect completely failing to offer any concern.. the VIX,...-8% @ 13.12.