Friday, 18 September 2015

11am update - battling it out

US equities are seeing a rather key battle this morning, as the bull maniacs are fighting to hold the early low of sp'1962 (with VIX 23.80). There remains threat of renewed upside into the middle of next week, to the 2030/50 zone... where there are multiple aspects of resistance.



Clearly, there IS threat of renewed downside.. but then its quad-opex.. and considering we've already cooled from 2020 to 1962 (2.9%)... a break of key support looks unlikely today.

The only issue is whether 'somehow' the market can turn positive by the close.

Brief note on Oil.

USO, 60min

Despite threat of renewed upside, I do not intend to meddle in oil again in the near term. Oil was particularly weak yesterday - relative to the weak USD.. and upside in Gold.

time to cook