Wednesday, 25 March 2015

1pm update - not so pretty

US equities continue to slide, into the next support zone of sp'2070/60 where the 50dma is lurking (2067). VIX is confirming the weakness, +11% in the low 15s. Clearly though.. this still rates as a very low VIX. Metals and Oil are both holding gains.. as the USD remains weak, -0.3%.




... with the break of 2085.. the increasing weakness is not a surprise... what should spook the bull maniacs though, would be any daily closes under rising trend of 2060.. which would also take out the pre-FOMC low.

*I was overly dismissive of yesterday's spike-floor daily candle in the VIX... next resistance is around 15.50/75... which would equate to a test of the 50dma in the sp'2068/66 zone.

Distinct weakness: DISCA -4.2%

momo stocks... TWTR, unable to hold the $50 breakout threshold, -3.9% in the $49s.