Wednesday 14 August 2013

11am update - minor weakness

The hourly index charts are rolling over again, and we're seeing some weakness, yet this remains the same trading range of the past four weeks. Its all minor chop..and the bulls will likely battle higher into the late afternoon.


sp'60min


Summary

Baring a break of the 1675 level...bears can't get excited yet.

*VIX is only 3% higher, and still in the 12s.

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I just can't take any of these declines seriously.