Friday 1 March 2013

2pm update - mini H/S forming ?

Mr Market is again on the slide, bulls need to hold the recent low of 1511/10..or at least 1501. USD is holding significant gains..and this is keeping the pressure on Gold and Oil.


sp'15min



Summary

You can kinda see a mini H/S on the 15min index chart, with the neckline around 1511/10. If we do see 1509 this afternoon, that wouldn't be the best end to the week for the bullish maniacs.

Or maybe we're just stair stepping higher?

Regardless, I ain't trading into the weekend, certainly not a good thing in options.
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*every Monday so far this year has been a winner for the bears - not least this past Monday. Will be interesting to see if the next one is the first Monday the bulls can close green.

back at 3pm