Thursday 3 April 2014

2pm update - B wave bounce?

US indexes see a micro bounce from sp'1884 to 89, which could easily be a small B wave of a minor retracement. Downside target zone remains 1880/75, which seems viable by 11am Friday. Metals remain weak, Gold -$4.


sp'60min


Summary

We've bounced on what is rising soft support, I'd look for that to get busted late today/early tomorrow.

Regardless, I'd be much more content to go long the indexes...after the jobs data is out of the way.
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*notable weakness in most of the momo stocks...

TWTR, daily


An ugly stock as I've been highlighting lately. Obvious target remains 40/38.
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2.42pm.. sp'1882...so...an 11pt swing..so far. next support is 1880.