Tuesday 17 June 2014

1pm update - R2K set to break RS resistance

The R2K is set for a daily close in the 1180s, which would make for a clear break of RS (right shoulder) resistance, and violate the remaining bearish H/S scenario. It all bodes for higher levels in the rest of the market...with sp'1950s..if not the 1960/70s by quad-opex.


R2K, daily


Summary

*I remain long the R2K (via IWM calls), seeking an exit in the 1190s tomorrow, I just wonder if 1200 is possible on an FOMC spike, which might equate to sp'1960s.
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