Thursday 5 September 2013

3pm update - a close in the 1660s?

The market has moved into a very quiet mood, and the algo-bots have a significant chance to close the market in the sp'1660s. Precious metals remain weak, with Gold -$26. Bears look entirely absent, ahead of the monthly jobs data.


sp'60min


Summary

It is indeed dead quiet out there..and with the 15/60min cycles suggestive of upside into the mid 1660s - no later than early tomorrow, there is absolutely nothing enticing me to re-short what still is, a nasty..twisted, and deluded market.
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special note..
   look for the algo-bots to ramp in the closing hour..not least to trigger all the 1659/61 short-stops.
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All things considered, it looks like we're going all the way back up to the 1680s.

Lets just see how Mr Market opens tomorrow..and take it from there.


3.45pm..well, the 1660s don't look viable today. Anyway...shorting ahead of the jobs data..overly risky.