Thursday, 26 June 2014

3pm update - seeking weakness into the close

US indexes look vulnerable to renewed weakness into the close. Metals remain weak, Gold -$4. There is noticeable weakness in Oil, -0.9%. VIX looks set for minor net daily gains, somewhere in the 11.75/12.25 zone.



Hourly MACD cycle is suggestive we're due to see a new up wave begin tomorrow, but I'm somewhat skeptical of that.

As things are, its not a good setup for those wanting to short, aside from those with around 1960.

updates into the close...esp' if we start to roll over.

*TWTR still building gains, +6.1%

3.07pm...minor chop...and its getting kinda tiresome.

3.14pm.. price action much like yesterday... minor upward melt...

oh well, I'll be looking for weakness early tomorrow then...1940/35. difference.

*I'd only drop the bear flag scenario if much above 1961

3.29pm.. 15min cycle...wants to roll over into the close.  Bears need 1952 to confirm.

3.46pm.. price action/structure almost exactly like yesterday... bodes for the bears..tomorrow.

TWTR cooling, +4.8%