Wednesday 4 September 2013

11am update - bulls battling higher

The main market is holding moderate gains, and unlike yesterday..so far..the gains look rather secure. A close in the sp'1652/56 zone looks very viable, so long as the algo-bots like what the Fed beige book says at 2pm. Precious metals remain very weak, with Gold -$20


sp'60min


Summary

Suffice to say, things look on track.

A continued bounce..into early Thursday - where we have a mid size QE of $3bn.
-

I will be seeking to launch a heavy market short...perhaps, in VIX 15.25/00 level.