Thursday, 25 June 2015

3pm update - bear flag confirmed

The baby bear flag that developed across today has already been confirmed, with renewed weakness to sp'2101... along with VIX 14s. Continued broad.. and more powerful downside looks due into the coming weekly close. First target is the sp'2090/80 zone.. with 'best case' of the 2060s next Mon/Tuesday.




It is always pleasing to see price structure pan out as expected. Today is going rather well for those in bear land.

Clearly, the declines are still only moderate, but the stronger action looks due tomorrow.. and probably into next week.

notable weakness, NFLX -3.2%... outlook looks rough... 600min... maybe 525/500 by Sept/Oct... pre-split levels of course.

3.08pm. some minor chop.... sp'2106...

Oh look... something to avoid...

Meanwhile.. Gartman is on now... lol... what a cartoon character.

3.44pm.. weakness into the close... the only issue is whether VIX 14s... for a daily close.