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.


sp'weekly6

VIX'weekly2

Summary

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.


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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.

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Goodnight from London