Wednesday 7 November 2012

10am update - confidence is high

Good morning, and welcome to another four years of his highness. Despite the victory, Mr Market is significantly lower, which is probably a combination of post-election blues, and renewed concerns about the EU.


sp'60min



sp'daily5



vix'daily


Summary

First target remains sp'1397, that seems somewhat tough to hit today, but the hourly cycle would allow it.

The VIX is barely up, but that is partly due to the loss of the uncertainty concerning the election.
--
Generally speaking, it looks like the bear flag has been confirmed, and we're on our way to 1380/75..if not 1345/20..within the very near term.


Confidence is high...I repeat..confidence IS high.



 Back at 11am