Friday, 30 August 2013

1pm update - afternoon scare?

The market remains moderately weak. An interesting aspect the bears should look for this afternoon is any news report/statement from the US, that could easily upset the algo-bots, and knock the market 1% lower, into the 1620/15 zone, with VIX 19s.




Ignoring the intra-day noise for this hour...everything looks fine for next week.

Target remains sp'1570/60s..although the lower weekly bol' will jump to 1570 at the Tuesday might fall a little short of the June lows...but thats okay.

*I remain short the market, via long VIX, but will consider an exit into the close, if 18.25..or higher.

1.26pm... market spikes 6pts on Kerry opening his mouth.    sigh.

I find it bizarre that is somehow bullish, and I'm seeing more lunatic talk across the usual sites about a rally into mid/late September.

Well, as ever..we'll see.

1.40pm.. stuck around sp'1634. Who the hell wants to go long at this level, and hold into next week?

Makes no sense, when you consider the daily AND weekly trends.