Wednesday, 26 August 2015

12pm update - struggling, but holding the double floor

US equities are still seeing some significant weakness as every micro rally is being sold into. Right now, equity bulls need a break above near term declining resistance, which as at 12pm is sp'1910... and which will be 1890 at the close. The hourly 10MA @ 1915.. is similarly a key target for the bulls to break/hold above.




Without question... it remains a somewhat borderline situation, but unlike yesterday, I don't see an insane closing hour collapse wave.

The smaller 15min cycle is offering price structure of a narrowing bullish wedge.. with a viable break upward into the close.

Overall price structure looks bullish.. at least for a few days. 

*I remain long-AAPL, which is marginally frustrating in the 106/105s. A daily close in the 107s would be a start.. and offer 110s tomorrow. I'll be holding overnight.

The sun has finally come out in London city, after earlier floods blocked the freeway.

time for tea.