Friday, 29 May 2015

12pm update - weakness before the next can kick

US equities remain weak ahead of what will surely be another Greek can kick next week. Best guess... sp'2090/80 zone early next week - along with VIX 16s.. before another wave higher into mid June. A tag of the upper weekly/monthly bollinger (2160/80 zone) still seems probable.. before an intermediate top.


sp'daily6 - bol/keltner bands


*a rare look at chart daily'6, the point is that sustained action <2080 looks unlikely in the near term. Renewed upside to new historic highs (at least for the sp'500) looks due in mid/late June

So.. it remains a reasonably good day for the bears... although still net monthly gains for most indexes.

A daily/monthly close <sp'2100 - along with VIX 15s looks very viable today. There is ZERO reason why anyone should be bullish into the weekend.

VIX update from Mr T. 

time for lunch :)