Tuesday, 4 August 2015

11am update - awaiting another push lower

US equities remain in minor chop mode, as the bull maniacs are still resolutely battling to push to new highs. However, with technical breaks (AAPL being a notable recent example) all over the place, momentum is increasingly favouring the equity bears. VIX remains subdued, but the setup is there for mid/upper teens.




*note the 200dma, now at sp'2070.

If the bears can break just to the recent low of 2063.. and attain a daily close <2070... things will get rather interesting.

Today sure seems like a replay of yesterday.... so.. perhaps expect increasing weakness within the next hour or two.
back soon