Friday, 24 July 2015

11am update - still no buyers

US equities are continuing to slide, with a fourth consecutive net daily decline now probable. It increasingly looks like sp'2080 is a given, with the market possibly seeing a more intense washout next Tuesday, in the sp'2070/65 zone. VIX is battling upward... for a weekly close in the 14s.




A fair few 'more balanced' than yours truly, have been calling for sp'2110/15 zone, but that looks out of range. There simply doesn't seem to be enough buyers out there right now.

Instead, a weekly close in the 2095/85 zone looks viable.. along with VIX 14s.

Eyes on the daily MACD cycles.. which are highly suggestive of more significant downside... more so on Tuesday.

notable weakness: energy stocks, CHK -2.6% @ $8.40s, as Nat' gas -1.1%. CHK looks like a $5 stock by early October.

BBRY... as highlighted to me by Deflationland

That sure ain't pretty.