Thursday, 18 September 2014

3pm update - the sun sets on the Kingdom

The sun has set over the United Kingdom... probably for the last time. Things could be very different tomorrow morning... and the implications for the rest of Europe are pretty damn serious. Regardless of any index action into the close.. a very long night is ahead for some.

The sun is setting, not just on the empire.... but the Kingdom



We look set for the third consecutive day of gains... and it will make for a rather bullish week. The weekly cycles continue to suggest 2030s in the near term...certainly by end month.

...updates into the close

3.07pm.. looking at the micro 5/15min cycles.... first support is around 2004 early tomorrow.

Certainly, the big 2000 threshold looks pretty secure.

It should probably concern the bears that the best we saw in the previous down cycle was a mere VIX 14s. 

3.29pm.. market in melt mode... no sellers....shorts covering.... pretty standard conditions.

In theory, the 2020s are viable tomorrow, with a VIX weekly close in the low 11s