Monday, 11 August 2014

2pm update - baby bull flag

US indexes are holding the gains. Price structure on the smaller 60/15min cycles is a very probable baby bull flag, offering an attempt at the 50 day (sp'1955) tomorrow. Metals remain weak, Gold -$3.



Suffice to say... smaller 5/15min cycles have arguably already seen a down cycle - at least in time... whilst prices have held.

Typical afternoon flooring time would be around lets see if bears can knock it down to around 1935.

2.05pm.. standing by to pick up another SPY call block... around 1935/00 zone.

2.07pm.. LONG, sp'500 from 1937.. .seeking 1950/55 tomorrow.

2.21pm... we've probably floored at 1937 this afternoon...

*I will hold long overnight... seeking the 1950s tomorrow..or Wednesday... I don't mind either way.