Tuesday 5 August 2014

11am update - morning chop

US equities see a minor up wave, but the Monday high of sp'1942 is comfortably holding. A further wave lower to 1915/00 zone is expected... which will probably NOT result in the recent VIX 17.50s high being broken. Metals/Oil both moderately lower.


sp'15min


R2K, daily



Summary

*notable strength in the R2K, but really, until it breaks out of the down channel...bulls have nothing to tout on that mess.
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Nano scale bounce to 1935....

*its typical turn time..11am.... bears need to step up here..and push lower....

If break 1942...then 1960s.

otherwise.... we're still headed lower... enough to washout another wave of stops.


11.35am.. chop chop.... a rather clear bear flag on the 15min cycle...

1920 is viable this afternoon... which would make for Dow -125/150pts... That'll wake a few up.


11.43am... bear flag...


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