Tuesday, 6 October 2015

Closing Brief

US equities closed broadly weak, sp -7pts @ 1979 (intra high 1991). The two leaders - Trans/R2K, settled lower by -1.0% and -0.7% respectively. Near term outlook offers further opportunity of another moderate wave lower to the sp'1950s, but broadly.. the 2000s look a given next week.



*price structure on the hourly chart is a very clear baby bear flag... offering downside to the 1960/50s tomorrow.

Without question, it felt a very tiresome Tuesday.... I guess I'm just still reeling from last Friday's crazy ass turnaround.

Really, was sp'1871 a key marginal higher low.. and go higher into next year?

Anyway.. first.. need to see how market trades once it does break >2000.. but that now seems more viable next week.

Spiderman, Batman.. and other crazies

What am I doing?

Well, I can't be short.. none of the daily/weekly cycles look good right now. I'd actually consider a moderate long if sp'1950s tomorrow.. but not sure what to get involved in.  Will sleep on it.

more later... on the VIX