Wednesday, 26 August 2015

2pm update - a secure double floor of 1867

US equities have seen further swings into the early afternoon, and it appears the market has secured a double floor of sp'1867. First upside is the rapidly declining hourly upper bollinger... currently @ 1965. VIX is confirming the equity floor.. -9% in the 32s. A daily close under the 30 threshold is viable.




I've seen more than enough.. I'm calling a double floor of sp'1867.

*I remain long-AAPL... seeking an initial exit in the 110s.

I would normally be very content to add to my existing position, however, as things are, I have little interest in committing any additional funds on the bullish side. I'll stick with what I have... and try to trade in/out of AAPL across the next week or two.

Indeed, I'm increasingly starting to wonder if the market will manage to broadly battle higher all the way into the next FOMC (Sept' 17th).

From there... well, then it gets serious.

stay tuned.