3pm update - something special

Good afternoon.... brb... just managed to finally logon!


.. and this is where I am sitting right now...

Why post from the capital city.. when a beach is possible?
 
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Market update coming...


3.06pm.. so.. equities are moderately lower, sp -11pts @ 2117... with the VIX +3.6% @ 12.70.

A retrace to the sp2100 threshold is clearly underway.. the only issue is whether 2090/80s are possible before the next lunge higher into August.
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Bullish Mounts Bay.... SW England.... at 8.09pm...

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Err.. so... I just logged on.... maybe I should be the one asking for an update.. ?

AAPL earnings due at the close, right?
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3.19pm sp -11pts.... 2117.....  with the 50dma @ 2102.. we'll surely at least get to there tomorrow or Thursday.

AAPL , daily

Bearish engulfing candle at resistance... hmm....  a case of good earnings.. but the market will sell it down anyway?
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notable  weakness, INTC, -1.4% @ $28.60s.... ugly daily/weekly charts...

Headed to at least 26/25.. .if not the H/S target of $22.50... possibly as early as October.
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3.44pm...  sp -8pts @ 2119.... just not any sig' downside power today.... seemingly likely though... tomorrow of Thursday.

Quiet start to the week

It was a quiet start to the week for US equities, with the sp +1pt @ 2128 (intra high 2132). A retrace remains due, at least sp'2100, with the lower gap around 2080 looking difficult to reach. Regardless of any weakness this week, there looks to be broader upside into August.


sp'weekly

Summary

The weekly cycle is offering the 2140s in the immediate term. 2150s look out of range until late next week. By mid August.. the 2160/70s will be viable... 2180/90s on a 'hysteria spike'.

I'm still guessing we will first see a moderate multi-day retrace.. at least down to the sp'2100 threshold.
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Looking ahead

Tuesday.. has nothing of significance scheduled.
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Special note...

My next post will be no earlier than 3pm EST for the Tuesday closing hour.

If no appearance tomorrow, then I'll endeavour to return for the Wed' closing hour... probably,  ;)  Maybe I will explain more... tomorrow afternoon.. if I'm available.

Goodnight from London

Daily Index Cycle update

US equities closed moderately mixed, sp +1pt @ 2128 (intra high 2132). The two leaders - Trans/R2K, settled lower by -0.4% and -0.5% respectively. Near term outlook offers a retrace, but with price action as it is, even the sp'2100 threshold looks a stretch. Regardless, broader upside into August.


sp'daily5

R2K

Trans

Summary

*notable weakness in the two market leaders, certainly bodes for a broader market retrace at some point this week.
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The sp'500 came awfully close to a new historic high (2134) today, a mere 0.1% shy.

Regardless of any near term retrace, the 2140s look very probable. The only issue is whether the market can manage a tag of the upper monthly bollinger.. currently @ 2182.

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a little more later..