Thursday, 12 May 2016

3pm update - bullish sunshine into the close

Despite a rather dynamic bearish opening reversal... with the market swinging from sp'2073 to 53, US equities are set to close moderately mixed. VIX continues to show no sustained/significant upside power... stuck in the lowly teens. For the equity bulls.. today was a little messy... but the market recovered yet again.




*re: hourly equity chart - I am trying to refrain from counting any of the waves, but hell, it ain't hard to see a large ABC /sub 2 wave.. starting from 2039... and ending somewhere close to 2100 next Mon/Tuesday.

Little to add, on what has been a particularly twisted day.

I'm sure the day traders out there had a rather entertaining day, but for those with eyes more focused on the bigger picture, today offered very little clarity, as the market remains broadly stuck a mere 3-5% from historic highs.

Here in London city..

Bullish UV.

Bearish shadow

After today, I could do with a week or two off.. but no... thats not viable. Each day... just... gets.... worse.

back at the close