Tuesday, 4 August 2015

2pm update - weak chop

US equity indexes remain choppy.. leaning a little on the downside. A third consecutive net daily decline looks due.. somewhere in the sp'2095/85 zone. VIX is still stuck in the 12s... the 13s would be 'something' for those seeking much higher levels before the weekend.




So.. the chop continues.. but a daily close above the sp'2100 threshold looks out of range.

Clearly, bears are still waiting for the first significant downside action. Considering the jobs data this Friday.. the potential is there.

*DIS earnings due at the close... those will likely come in better than expected, but I'm guessing Mr Market will still want to sell that one lower - after initial gains, as it has done to many stocks post earnings lately... even the good ones.

time for tea