Thursday 21 June 2012

11am update - a little bounce..possible

Well, looks like market wants to trade up for a few hours.


iwm'15min



sp'15min



Summary

I was not happy with the 15min cycle, its too low..not good to be holding short here...so I intentionally stopped out earlier at sp'1349.

Will seek a re-short at 1352/57 in 2-4 hrs. If no bounce...I'll sit out rest of today.

I still think there is good chance of 1340/35 as the next target..but...maybe it'll be a low for Friday morning instead.
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