Friday 14 June 2013

2pm update - target hit, now we go up?

The main indexes have seen a further wave of weakness, hitting sp'1624. Yet, if that was indeed just a retracement, then the market is set for upside into the close, and certainly, across all of Monday. VIX is holding gains of 4%, but could easily close negative.


sp'15min


Summary

Bulls should be seeking general upside into the close. Green indexes to end the week, would be a ...bonus.
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*I am long the indexes from sp'1626, and will likely hold across the weekend..unless we get some kind of hyper ramp back to 1635/40..in which case I'd close out for a day-trade.
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2.08pm market still trying to put in a floor spike, before pushing back  higher.

2.12pm.. sp 1627..and the VIX looks weak..15min cycle looks maxed


VIX to probably close red


2.27pm..well, there are the sp'1630s again. 90mins to hit the 1640s !