Monday, 28 September 2015

2pm update - bearish sunshine

US equities remain under severe downward pressure.. with a new intra low of sp'1888 and VIX 27.11. There remains high threat of a bounce into the close.. and one which might drag out into early Tuesday. Best bounce target is 1910/15... from there, straight down to 1867.. and probably 1820 by Thur/Friday.




A rather fierce battle continues as the market is truly struggling to find a short term floor.

There seems HIGH threat of sp'1820 this week, not least with the R2K well on the way to the Oct' 2014 low of 1040.

Frankly, equity bulls had better pray 1040 holds. If we see a sustained break under there... well...  wild days ahead.. it seems.

*I am on the sidelines... looking to launch another re-short.. preferably from the 1910/15 zone. Right now. .that seems more viable tomorrow morning than by the close of today.

As for sunshine...

A bonus summer afternoon

Bearish shadow

Ohh, and the 'super blood moon' last night... it was quite a sight in London city. Clearly, a sign the market will crash this week, ;)

**Bonus chart...


A red candle... nothing bullish there.. with first resistance at the 10MA of 1989, a full 5% higher.
stay tuned

2.06pm.. A market short term floor.. if 2.30pm.. then a natural high would be tomorrow in the 10/11am hour.

Not that I'll trade such a prediction higher.. to me.. that would be crazy.

Default trade is short.. just a matter of finding an acceptable level.

2.15pm.. sp -49pts....  VIX 28s.. due.

Relentless grind lower....  prime threat of a turn in 15mins.

2.27pm... Well, its about that time of day....

Market trying to floor from sp'1980.. with VIX 28.15.

2.30pm... Its time for a turn............ sp'1884..

Best case bounce upside is now the 1900/1910 zone.

2.35pm.. If the market can close around 1895 or so.. that brings within range target zone for tomorrow morning.

Interesting that VIX shows near zero market panic.

2.38pm.. sp'1886.. looks like we're seeing first stage of a bounce.