Monday 11 June 2012

11am update - Mr Market messing around both sides

So the overnight gains completely fizzed away in the opening 30mins - with IWM flashing the first warning with a classic black candle.

Yet, the daily, and weekly cycles have underlying momentum to the upside still. So... bears should stay out of this mess.


IWM'60min



Sp'60min



VIX'60min



Summary

For anyone trying to play the open, this is surely becoming a real confusing mess. From overnight dow +150..and as I type, dow -35.

VIX is NOT confirming any move to the downside this morning, bears should be VERY concerned about that.

I think its best to let those algo-bots battle it out at least until late Tuesday, or early Wednesday.
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*I'll cover the daily cycles in the next hour maybe, they are ALL still warning of upside to my original target of sp'1350/60.