Friday, 4 September 2015

11am update - battling to build a floor

US equities are battling hard to hold above the early low of sp'1919 - a notably higher low from 1903. If the market can stabilise from here... talk will swing back toward the sp'2000 threshold. VIX remains positive, +7% in the 27s, but looks highly vulnerable to closing the week red.


sp'60min



Summary

Well, it sure ain't pretty.. but we do have a marginally higher low.

For those with broader downside aims... a new intra low <1919 is important today.
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notable weakness: 

miners, GDX -1.9%.. with Gold -$7 and Silver -1.0%


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AAPL, 15min


Price action bodes for upside into the afternoon.. which itself is at least somewhat bullish for the broader market.
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11.06am.. Well, its prime time for a turn upward...

notable strength: airlines, DAL +1.4%, UAL +0.2%, lower oil is surely helping.