Tuesday 24 July 2012

12pm update - waiting

With the daily cycle pushing lower, market is indeed under constant pressure, yet I still think there is a fairly reasonable chance of upside - via a C'wave. VIX is weak, and is not really showing any sign of real concern.


sp'15min



vix'60min





Summary

Market weaker than expected, very close to taking out yesterdays SP' low of 1337.

I still think there is a chance of latter day ramp to 1355/60.

For the moment..I will merely watch..and wait.