Thursday 15 November 2012

3pm update - another closing hour sell off?

Here we are again, one hour left of the trading day, and the question is..who wants to go long this closing hour? Well, in that case, the underlying weakness should probably start to appear again.


sp'15min



sp'60min



Summary

Lets see what the bull maniacs got in them, this closing hour. Considering the past few weeks, a last hour ramp seems..highly unlikely.

I remain on the sidelines, waiting for the next bounce to re-board the bear train.

UPDATE 3.35pm Weak market..a close at lows of the day very viable. Would likely complete a major third wave decline from 1430 to 1340s. Pretty good.