Thursday, 25 June 2015

2pm update - price structure is bearish

US equities are broadly flat, unable to climb above the opening high of sp'2115 (with VIX intra low of 12.92). A net daily decline for most indexes remains very viable, but regardless of the exact close, price structure is a very clear bear flag.. offering a weekly close in the sp'2090/80 zone.. with VIX 15s.




Little to add.

Certainly, the bear flag does not need to break today... there is no hurry, and these things tend to drag out longer than I usually expect.

What the short term traders should now be asking themselves is.. do I want to hold long across the weekend?

meanwhile... its another fine day in the city...

Blue skies for the bears into Sept/Oct
2.29pm.. a clear break and confirmation of the bear flag.

Market unravelling with increasing concern of no Greek deal.

A daily close <sp'2100 is now on the menu... and that is a bonus for today.