Monday 17 September 2012

3pm update - on track for sp'1430

The day is still kinda slow, but a few things are going on. Oil has snapped lower, sucking down Gold/Silver with it.

Yet, the VIX is flat, the main indexes are clearly still in a topping process, that may take a few more days to complete.


sp'60min



sp'daily5


Summary

Transports continues to weaken, with the Rus'2000 small cap' starting to follow.

Everything looks on track. sp'1450 is first soft support, I believe that will fail to hold, and then a further wave lower, later in the week.

I remain short, and seeking an exit at 1430.

Lots more after the close