Thursday 6 December 2012

10am update - waiting..again

Opening minor chop, Mr Market seems somewhat adrift. Weakness in equities should appear as the day develops. The dollar is higher, and that is putting pressure on the metals and Oil. AAPL is down again...as expected, with a death cross due tomorrow.


sp'60min



sp'daily5


Summary

I'm trying to be patient, but its getting annoying again. We have the jobs data tomorrow, and then there is the issue that the ignorant media are now touting next weeks FOMC as the 'QE4 annoucement', even though the 45bn t-bond buying was ALREADY announced in mid-September. Idiots.
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I remain seeking an exit @ 1395, although 1385 would be the natural bigger first target.

Transports, set to go negative cycle, with a bearish MACD cross, in about 3-4 hours.






If we can break <5080, that would suggest the sub-wave'2 idea is correct, and we should fall into Friday.