Tuesday 12 March 2013

2pm update - 3s, 4s, 5s...urghh

Underlying pressure remains upward. With opex this Friday, and two major POMO days, bears face massive issues. If we're still in a minute wave'3 higher...we're still going to battle higher into next week. The sp'1570s are very viable by this Friday.


sp'60min - micro count



Summary

I've made a vain attempt to update the near term micro-count on the hourly index chart.

*this chartist seems to have it figured out.. see: Waveaholic

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Basically..I'm assuming...

1. we're still yet to complete the tiny (black) wave'3 - perhaps today is sub'4 ?
2. we then see a small (blue) 4 down
3. a final wave Blue'5 of the 3 up.

urghh..its all too annoying, and frankly, I'm more than happy to just leave the indexes to churn higher into next week.

The higher we go, the safer it will be to launch a re-short.
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back at 3pm