Tuesday, 17 July 2012

Closing Brief

Its possible the top was put in this afternoon, but it will take a few more days for any conclusive rollover on the daily cycle to occur.

The closing hourly index charts...





The VIX closed moderately red -3%, and thus the index gains were confirmed. Certainly, there is NO bearish rollover yet.

The big issue for Wednesday will be do we somehow magically break 1374...or do we get stuck? I'm guessing the latter.

More later