2pm update - breaking to the upside

After some chop, it would seem the market has now put in a solid floor for today at sp'1946, and is set to close higher than current levels. The VIX is naturally cooling, -8% in the 25s..  the 20 threshold looks an easy target by Friday/early next week.


sp'15min

DIS, 15min

Summary

*I had eyes on DIS for $102.50/25 this hour, but with a break above the pennant.. it now looks super bullish to the 105/106s.

As things are, I won't chase anything higher.. so.. that one I'll let go.
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As for the broader market... a sig' net daily gain, with a close in the 1960s is now probable.

That sets up a break above last weeks high of 1975.. and onward to the big 2000.
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back at 3pm

1pm update - chop chop

US equities remain significantly higher. Price structure is still offering some form of bullish flag/pennant.. with a  break above last Wednesday's high of sp'1975 due this week. Broadly, the market looks headed into the 2000s... as many are increasingly seeing no rate hike until the Oct or Dec meetings.


sp'15min

Summary

Little to add.

However you might want to count or draw lines on this nonsense, we've put in a series of higher lows... a double floor of 1867.. 1903... and last Friday's 1911.

Who really wants to be shorting into that?

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DIS,15min

Its tempting.. but not from the $103s... and not at this time.

back at 2pm.

12pm update - baby bull flag

US equities continue to see a little chop - from an early high of sp'1960, but leaning on the downside. An afternoon floor in the 1945/40 zone would be natura - completeing a baby bull flag, before resuming higher into the close. Daily MACD cycles are turning positive across the main US indexes.


sp'15min

sp'daily5

Summary

Little to add.

Best guess... continued cooling to the sp'1945/40 zone... by the 2pm hour.

From there... UP.
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VIX update from Mr T.



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I've eyes on DIS... seeking a long in the mid/low $102s.