Wednesday, 25 March 2015

2pm update - attempting a floor.. again

Having failed to hold the retrace low of sp'2085, we've seen further weakness to 2069. Price structure is offering a very early sign of a floor in the price cluster zone of 2070/60. Only with a daily close under the 50dma of 2067 could the equity bears have any real confidence of continued weakness into end month/quarter.




*black-fail candle for Gold... not so bullish... and there is a truck load of resistance to the 120 level (equiv' to spot Gold of $1250).

The afternoon turn time of 2.30pm is fast approaching...   the bulls should be able to manage a daily close in the 2070s... but clearly. that will still make for the third consecutive net daily decline.

VIX is cooling a little, +10% @ 15.09...   things only get 'interesting' on a close >15.50.
Notable weakness: DIS -1.5% in the $105s... next support 103/02.