Monday 24 September 2012

2pm update - a close under 1450 ?

Not much happening, but we sure ain't going up right now.


sp'60min



sp'daily5



Summary

Still a quiet day, but at least the MACD trend is still ticking lower.

Tuesday the cycle will go negative, and so I'm most definately seeking a move to at least test the 1440 level. A close in the 1430s tomorrow would be a real bonus to the bears tomorrow. We'll need to see VIX 16/17 for that though.

AAPL helping to drag down the tech', with the miners being a particularly damaged sector, GDX -3%

Ohh, and the FB, -9%, arguably breaking the bear flag on any basis, target remains 15, and then 12/10 by late November.



back at 3pm