Friday, 2 October 2015

11am update - the battle rages on

US equities remain significantly lower, but as ever... the bull maniacs are out there... trying to find an entry level... helping to negate half of the declines. First target remains 1870/67.. with VIX 27s. With the USD -0.8% in the DXY 95.40s, there is a notable hyper-reversal in Gold from -$7 to +$23.



GLD, daily


All cycles currently favour the equity bears into the weekly close.

It makes little sense that the market won't at least test the 1867 low.. and in theory.. a marginally lower low around sp'1850 would be rather natural... although that seems out of range today.

*I remain short DIS, GE, and long-VIX.. seeking to 'clear the decks' before the weekend... but if price action looks okay.. I could just about stomach holding into Monday.... not least as I've now dropped DAL.

time for some sunshine... or I'll go crazy