US equities are well into the process of attempting to build a floor from the soft threshold of sp'1950. The monthly jobs data certainly offers further uncertainty into tomorrow, but broadly.. the market still looks due further upside into next week.... and quite possibly FOMC week itself.
*price structure on the smaller 15min cycle is a baby bull flag
Interesting day.. and one where many will feel like they are back in the washing machine on spin cycle.
Market should be able to churn sideways for the rest of today.
Yours truly is looking at AAPL, now $2 lower than my opening exit.
Frankly... I'm not particularly in the mood for another trade today.. not least ahead of the jobs data... and a long weekend. ... but hey... I might change my mind.
2.09pm LONG-AAPL, from $110.16... with sp'1950.
It is a small position.. barely half of what I held this morning... I remain in 'trading light' mode... but I do see renewed upside from here.
So.. I'm back in.. again.. will hold overnight.
2.13pm notable weakness, NFLX -4.6% around the $100 threshold
2.20pm.. chop chop.. and we're approaching the afternoon turn time of 2.30pm... a little upside into the close would be natural... somewhere 1955/60 zone... with VIX 24s.
2.32pm.. well, its turn time.. sp'1954... VIX back to negative.. AAPL 100.70s... which is already rather good to see. The 111s by the close would bode well for Friday.