Thursday, 26 March 2015

1pm update - early afternoon chop

US equities are seeing some moderate chop after the earlier low of sp'2045. There will be some significant resistance at the rapidly declining hourly 10MA.. which at the close of today will be around 2060. A fourth consecutive net daily decline still seems probable.




Not surprisingly, VIX has rapidly cooled... and has already fully filled the opening price gap.

VIX weekly cycle is offering the low 20s... but that is far more likely early next week than tomorrow.. even if we fall into the sp'2030s.

So.. lets see if the market can roll over again into the close... which frankly.. seems more likely than not. Considering the weekly cycle charts... it is difficult not get at least 'marginally excited' about continued declines into next week.

Notable resilience: AAPL +0.9%, INTC +1.2%