Monday 15 October 2012

3pm update - bears need to bring out the hammer

It looks like the hourly index cycles are indeed maxed out, and we're already seeing the first minor snap lower. VIX looks floored on the hourly too. A flat close looks a tough task for the bears though.


sp'60min



vix'60min


Summary

Well, lets see if some more of that 'selling into strength' occurs in this important closing hour.

Bears really do need a close back under the hourly 10MA @ 1431, that seems just about possible.

More after the close