Friday, 8 April 2016

11am update - above or below 2066

US equities are moderetely higher, and it remains the case, that either the market will take out the Wed' high of 2066.. or merely see another failure, and resume lower. A basic retrace to the 2020/10 zone - where the 200dma is lurking - along with VIX 18s, continues to remain within reach.




Q. A near term break above sp'2066, or holding below?

For the moment, we're seeing a clear reaction from sp'2060..... as no one wants to buy any higher.

A weekly close <2040 - a threshold that has been pretty important across many weeks... arguably even a year or more... would be useful.

yours... holding.