Thursday, 7 April 2016

12pm update - awaiting a break of support

The low sp'2040s are clearly short term support.. but do look set to be broken. VIX remains in the 15s, and equity bears really need the 16s today, to have continued hope of the 18s tomorrow. Metals are holding strong fear-bid gains, Gold +$16... as the strengthening Yen is causing further ripples across the capital markets.




*yes, the current hourly candles don't look so great, but then.. we're seeing an initial bounce (again) from the low 2040s.

VIX. daily cycle will have resistance around 17.00 tomorrow.. and that IS something of a problem.

However, sp'2015/10 currently looks valid, and that would likely equate to VIX 18s... if briefly.

In any case... equity bears should be in control until the Friday close.

notable weakness.... FCX, daily

Naturally ugly... and FCX remains on my 'disappear list'.

time to see what the cheerleading maniacs are saying on clown finance TV...........