Wednesday 25 June 2014

1pm update - it is a B wave

US indexes are in churn mode...probably close to completing a B wave. The market will likely see renewed weakness in the late afternoon. Primary downside target zone remains sp'1940/35, before renewed strength into July.


sp'60min


Summary

From a chart perspective, a rather classic B wave.. back testing the old broken mini trend/channel.

We'll likely see some weakness into the close, with follow through tomorrow.
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back to the game... I'm watching Nigeria/Argentina