Friday 25 May 2012

11am update - market...stuck

Just like yesterday, we are so far unable to break over sp'1325, never mind the more decisive 1330 level. If this is a wave'4, then new short positions will be fine with a stop around 1328/30.


Sp'60min


Summary

Considering the cycle, I'm looking for some moderate weakness later in the day, with at least a flat VIX.