Friday 11 April 2014

1pm update - shorting hour

US indexes are seeing what might well be a small ABC wave'2 bounce. Regardless of want you to call it though, with the key thresholds broken yesterday, any bounces..are bounces to be shorted. The only issue is what day next week we'll hit sp'1770...Tues', Wed'..or Thursday?


sp'15min


Summary

*I will be on full standby this hour to launch two new positions, which after some consideration, I will hold across the weekend.

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bounce target: 1834/36, with VIX 16.25/00 (VIX is holding up very well today)

Stay tuned


1.08pm... sp'1823....hmmm.. if <1819...then...I guess I missed my bounce.

1.21pm.. yes, price action is weak, but I still have a hunch we'll one stupid little C wave ramp.


1.34pm.. holding the earlier low...just.

I am not interested in chasing this lower into the weekend....

I demand the 1830s !


1.40pm... another attempt to rally...no doubt..this is confusing many on clown finance TV (I have them on mute today).