Tuesday 12 August 2014

3pm update - structure remains a bull flag

US indexes remain moderately weak, whilst overall price structure remains a bull flag. Primary upside target remains the 50 day MA of sp'1955.. which seems very viable for Wednesday.


sp'60min


Summary

Today has no doubt really frustrated and bored many...

Two up days...
A day of chop...

Wed/Thursday, a push into the 1950/60s.
-

The bigger issue is what happens then.. but more on that later...

*I will hold long-indexes overnight, seeking an exit in the 1950/55 zone.


3.20pm  a close around1933/35 seems probable.. VIX could still close red.

back at the close...