Monday 16 July 2012

2pm update - no bearish turn yet.

Whilst the smaller cycles remain choppy..a quick look at the bigger daily cycles..rainbow style...


sp, daily, rainbow



vix, daily, rainbow


Summary

There is NO sign of a turn yet - via a blue candle..so those 'big money' bears..will be smarter to wait.

It is highly unlikely we'll see any turn tomorrow either. In fact we could see a further wave higher (C wave?), into the 1360s.

Tuesday earnings, INTC..will be a market mover. They remain a superb company, and I can imagine them doing okay, and thats got to be an excuse for a further ramp.

So..for the smarter..and more conservative bears...its looking like no button hitting until at least Wed/Thursday.