Monday, 29 July 2013

12pm update - minor down cycle complete

The bears look exhausted after another minor down cycle. Once again, we look set for latter day ramp, with the mid sp'1690s very much viable at the close. Metals and Oil are recovering, and look set to close moderately green. VIX appears to have maxed out at 13.86




A rather clear inverse H/S (not labelled) on the 15min cycle. Bulls merely needed to hold 1680..and so far, looks okay.

I've added a micro-count to the hourly charts, seeking upside into at least early Wednesday.

Target remains sp'1710/20s.

time to shop...and then lunch!