Tuesday, 28 July 2015

3pm update - a bounce for the bull maniacs

After five (ohh the humanity!) consecutive net daily declines, the sp'500 is set for a significant net daily gain... somewhere in the 2085/95 zone. Sustained price action above the 2100 threshold looks overly difficult, and considering the bigger weekly/monthly cycles... renewed weakness into end month looks probable.




*note the upper bollinger on the hourly cycle...  that was always a 'worse case' for those shorting during today.

All things considered though, today is likely just a bounce.. within a broader down trend.
*TWTR earnings at the close.... it will make for some entertainment. Something to look for, user numbers.. which TWTR is going to struggle to increase.