Monday, 4 June 2012

11am update - chop choppy chop

Market remains a real chop-fest, its probably starting to annoy both bulls and bears alike. From a 60min cycle perspective, we're still due a bounce. I sure won't be short with the cycles like this.




First bounce target remains somewhere in the low sp'1290s... a bounce as high as 1300 is still possible.

As ever..bears should keep an eye on the VIX..which is now slipping back from its morning high - which interestingly was a new high for this wave'1.

*FB having another lousy day, awww.  Fair value remains $4

More in the next hour