Friday, 2 November 2012

Closing Brief

For the fifth time in six days, the opening gains failed to hold. It would appear the soft resistance zone of sp'1430/25 was indeed important. The VIX confirmed the index declines, closing a little higher (4/5%)





A good way to end a somewhat bizarre 3 day trading week.

The 1411 target was not hit, but that was always unlikely. So, no bearish engulfing candle on the sp'500, although there might be one on a few other indexe (I've not looked yet!)

Have a good weekend

*There is a lot to consider this weekend. I will post the usual 'monthly index cycle' update on Saturday.