Monday 10 December 2012

2pm update - rolling over...slowly

The hourly index charts are all showing the same thing..a rollover, but its a slow one, and the formation could easily be a micro bull flag, within what remains a near term up trend. Bears will need to break <sp'1415 to break the up trend. Considering its only 3pts away, and the upside momentum us being lost..there is a chance of a weak closing hour.


sp'60min



vix'60min


Summary

Overall though, tt remains....dull.

VIX is due to go positive MACD (hourly) cycle in about 2-3 trading hours, so..any minor drama will not be until early tomorrow.

UPDATE 2.25pm, Note the 50 MA @ 1416. A close under that would be...useful.