Monday, 1 June 2015

11am update - a man makes another post

US equities remain moderately weak, having seen a rather classic opening reversal from sp'2116. There is viable downside to the sp'2090/80 zone across the next few days - with VIX 16s, before renewed upside into the FOMC of June 17th. USD has rebuilt gains, +0.6% in the DXY 97.40s.

The many faced god has bullish and bearish faces




 *if a man or woman does not get the reference in the picture above, a man or woman is not watching the correct TV show on a Sunday night.

Okay.. away from Bravos, and back to market land...

Price action looks very much in favour of the equity bears, and is certainly being reflected in the VIX..having broken the high of 14.64.. when sp' was 2099.

Given another few days, we should be somewhere within the sp'2090/80 zone. The VIX should offer a clearer sign of a market floor via a spike top in the 16s (17s.. on a stretch).

notable weakness, coal miners, BTU -5% @ $3.21.. another new historic low.

stay tuned...