Thursday, 21 April 2016

12pm update - leaning weak

US equities remain choppy, and having seen a clear break of short term rising trend/support, are still leaning to the downside. A daily close in the sp'2090/85 zone - with VIX 14s, looks probable, which should clarify the 2065/61 gap zone will be hit late Friday.. or more viable - Monday, ahead of the Wed' FOMC.




So... a lot of chop....   a great many reversals (esp' in metals/Oil)... but we're still not seeing any sig' equity downside.

The sp'2060s looks due before the FOMC... with the 2050/40s viable as an April close.

notable weakness... UAL, daily

A clear bear flag, with UAL having failed to break and hold the $61s in late March. Next support is the 50/49 zone, then $42s.

time for... tea :)

**I see on ZH... UBS noting sp'2033 as key support... as I've been droning on about the last few days.

see HERE