Tuesday 24 June 2014

3pm update - weakness into the close

US indexes are seeing a little weakness this afternoon, but still holding the short term up trend. However, that seems likely to break late today..or early tomorrow. Mr Market should comfortably hold the 1945/35 zone into the weekly close.


sp'60min


Summary

Little to add.

A new high...a reversal (better seen on the daily charts)..and a minor down cycle.

GDP data tomorrow will be a fair excuse for a move into the sp'1940s... problem is.. sig' QE of $3bn....bears...beware!

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3.12pm break of trend.... 1940/35

3.21pm.. weak weak weak....  VIX headed for 12s