Wednesday 25 June 2014

2pm update - churning before the next wave lower

US equities are holding moderate gains, but another down wave is likely in the near term.. possibly beginning before the close of today. Primary downside remains 1940/35 zone.. from where the market should rally into July.


sp'60min


Summary

A lightly labelled chart, and I am guessing we'll see a C wave begin late today...or tomorrow...it really makes little difference.
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So...two hours to go...lets see if we roll over again.