Friday 26 June 2015

11am update - messy morning

US equities are battling hard to hold moderate gains. The sp'500 is offering a short term floor of 2100, with viable upside to the 2114/19 zone.. before renewed downside. In any case... daily/weekly cycles remain leaning on the bearish side.


sp'60min



vix'60min


Summary

To be clear...

Considering the threat of 'Greek issues' over the weekend, it is going to be damn hard for the market to hold the current gains.. never mind build them into next Monday.

As it is... there is viable upside to the 2114/19 zone.. where there is a minor price gap zone of 2117/19.

Under no reasonable outlook do I see sustained action >2120...before the 2080/60s.
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*I remain long VIX... am in no hurry to exit that one. I'll keep my eyes on INTC.. in case the maniacs can somehow bounce it significantly... but that won't be easy.
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time for an early lunch