Thursday, 16 July 2015

Eyes on the prize

It was a mixed day for US equities, with a new cycle high of sp'2114, but settling -1pt @ 2107. Further weakness looks due to the 2090/80 zone - with VIX 15/16s, and then renewed upside into August. The real prize for the equity bears though is likely coming within the mid-August-early October time frame.




A somewhat tiresome day.. ending with yours truly seeing INTC soar on earnings..having exited (long) yesterday. I suppose it could have been worse, I could have flipped to the short side.

re: the two charts above... I shall merely add... I continue to see a major wave lower after the market maxes out in the first half of next month. Whether that is from the sp'2120s, 30s.. or even 2170s.. .difficult to say.

Looking ahead

Thursday will see the weekly jobs, phil' fed, and housing market.

However, it will be day'2 of the Yellen, this time talking to the US senate.

Goodnight from London