US equities opened on a positive note, with the SPX pushing to 2799. The gains were shaky though, with cooling into midday. The afternoon saw some chop, with the closing hour leaning a little higher.
Volatility churned, with the VIX melting just a little lower, settling -3.3% at 17.30. S/t setup offers early Friday upside, but that sure won't negate what has been a pretty bearish month.
I see many endings laid before us. Some good. Most bad.
The original movie was something that traumatised many a child of the 1980s. This latest Netflix series looks pretty good. Mmmmmmmmmm.
The following AAPL chart should scare the hell out of the equity bulls...
That is one fiercely bearish engulfing candle. Technically, the downside target has to be $125, and I'd accept that could be deemed 'crazy talk'. Whilst Apple is not the be-all of the US equity market, it is a key component, and arguably reflective of the broader US/global consumer economy.
|Ray of light for the bulls|
|The UK from the ISS.|
Extra charts in AH (usually around 7pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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