Thursday 7 June 2012

3pm update - baby bull flag?

Well its the closing hour, market holding up very well, 1330/40s can't be far away, certainly we'll surely be there by next Mon/Tuesday.


sp'60min



vix'60min


Summary

So, the market is now a mere 800 dow pts away from the 13300 May'1st high. I'd guess another 350/400 at most..and then...down we go...riding the wave of destruction.

VIX did rally earlier as you can see, but even thats fallen away again, and looks set to close at the low of the day. VIX 18 now seems likely, maybe briefly 17/16 - with sp'1350s.

More after the close, although it seems quiet today 'out there'.