Wednesday, 25 March 2015

3pm update - a third day for the bears

US equity indexes are set to close lower for the third consecutive day.. with the VIX naturally higher for the third day. Price structure on the hourly cycle is offering a floor of sp'2069.. along with VIX maxing out at 15.39. Oil has built powerful gains of 3.9%.. in the $49s.




So.. a third day for the equity bears... having slipped from sp'2114 to 2069. In the scheme of things though.. its clearly nothing particularly significant.

Notable weakness: INTC -2.3%

3.10pm Market testing the 50dma..@  sp'2067... notably.. VIX not broken the earlier high... at least yet.

3.26pm.. fractional break of the 50dma... sp'2066... VIX still not breaking a new high.

What is clear.. if 2060 fails.. then next realistic support is the 2020/10 zone.. where the 200dma will be lurking next week