Monday 24 June 2013

3pm update - moon ramp into the close

The bears have had a great run from sp'1654 to 1560, but its time for some degree of significant bounce. The 1600/10s seem viable by late Tuesday..with VIX in the 17/16.75 gap-fill area. In the bigger picture though, downside remains the lower weekly bol @ 1495.


sp'60min



vix'60min


Summary

*I exited a small index long @ sp'1582 (long from 1564).

I am more than content to sit on the sidelines overnight, and will wait to launch a FULL short of this market...probably late Tuesday.

It truly remains the height of irony that I have been making gains on the long-side..in a falling market.
-

I will cheer lead this market to the 1600/10 area...it will make for a superb re-short level.


UPDATE 2.59pm..minor pull back to 1580, but generally, trend should continue higher. I find it hard to believe we'll open lower again tomorrow.

oh well, I ain't meddling in this now, so it won't worry me either way.


3.07pm.. back to sp'1584....hmm, a close in the 1590s would really open up the 1600s for tomorrow!

Come on bulls, keep pushing ;)


3.20pm Bulls could do with a close in the 1580s, that will make a break into the 1600s so much. easier.


sp'1607 , late tomorrow? 1620s look out of range.