Friday 6 September 2013

2pm update - market breaking upward

The market is breaking a little higher, sp'1664s, with VIX in the low 15s (having earlier spiked to 16.81). Bears should continue to seek some degree of weakness into the Friday close, although the sp'1640s now look somewhat difficult to achieve.


sp'60min



vix'60min


Summary

Well, the bulls have had a good few hours now...the clock is surely running out for them.

Two hours to go....I remain seeking afternoon weakness...back into those 1640s, which would get those weekly charts back to outright bearish.
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Regardless of the latest move, I'll hold short across the weekend. This mornings price action again was a reminder of just how twitchy/unstable this market is starting to become.


2.17pm..market offering another potencial top. Will only know..by the close.

Frankly, I think things have are looking pretty okay for the bears next week. We have a market that is getting real twitchy on sporadic Syria-related comments..