Friday, 31 July 2015

12pm update - awaiting a break lower

US equities remain very choppy, and that could easily remain the case into the Friday/monthly close. The hourly cycle setup still favours the equity bears.. with a down cycle due. VIX looks floored in the 11s... the bigger weekly cycle will be offering the 16/17s next week.



A pretty messy day to end the month.

Re: precious metals. Gold has certainly seen some swings today.. from -7 to +12... but now cooling.. just +$7. For July, Gold is set to close net lower by around $70 or so.. and still on track for the psy' level of $1000.

*Considering the current equity price action, I'll hold long-VIX, and short-INTC across the weekend.

notable weakness, AAPL.

A break under the recent $119 low would be pretty important.. and bodes for broader market weakness. INTC is similarly looking weak... but more on that later.

VIX update from Mr T.

time for a cool drink.