Tuesday, 25 August 2015

3pm update - upside into the close

US equities are set for significant net daily gains, with the VIX having already cooled from a Monday opening spike in the 53s to the 28s. It remains a case of how many days.. or even a few weeks... might a bounce last. For now... first target is the psy' level of sp'2000.




*I'm tired... and not exactly running on full power today...

Suffice to say.. market looks set to push higher tomorrow... very likely above today's high of sp'1948.

A test of the sp'2000 threshold before the weekend remains very possible... and I sure won't short anything right now.

*as of the past hour, I am long-AAPL from the $107s.. with sp'1916, and will hold overnight.

back at the close... unless something bizarre happens.


3.23pm.. Hmm... some weakness..

Ironically. relative to recent days.. even on the 15min cycle... a 15/20pt drop doesn't look big.

sp'1906... Mr Market trying to washout the weaker bulls, before next wave up?

After all... unless you think we're going to see renewed severe weakness to 1820... this is merely a 'relatively' moderately down wave.

3.32pm.. so.. err.. the title of this post was 'upside into the close'.... hmm

sp'1904.... with the Monday close of 1893 looking within range.

3.35pm.. sp'1897..... just 4pts from the Monday close... with the R2K already fractionally red.

Hmm.... well, not such a predicatable close after all.

*I would add to long-AAPL from these levels... but I am in 'trade light' mode, and will merely hold what I have.

3.41pm.. indexes turning red... sp'1891... a full 57pts below the earlier high... almost a 3% bearish swing!

3.43pm.. That sure ain't a pretty candle on the hourly...

Bears will be screaming to break the 1867 low tomorrow... but I'm guessing... no.

3.46pm  1884.....     I guess you could say.. 'shields weakening'.