Friday, 27 June 2014

10am update - opening minor mess

US indexes open a little lower, but have already rebounded to flat. Daily charts look somewhat weak, and the hourly charts are still suggestive that the sp'1940/35 zone is viable. Equity bulls can easily sustain a weekly close in the 1940s without doing any sig' damage to the primary trend.



Summary that it for the downside..or another wave?

As it is, I won't try to short this nonsense...the declines remain minor..and never last long.. as we've seen this week.

Pretty tiresome already.

10.03am... market wants to roll over. Just who is going to buy >1960 today.. especially into a weekend?

..awaiting the 1940s... again.

10.07am.. rolling over....

10.23am... urghh...back to chop.

Oh well, I ain't short anyway, none of it matters.

Notable weakness, TWTR -1.6%, but already 1% off the low, and still looks set for much higher levels in July.