Friday, 28 August 2015

12pm update - marginal new cycle high

US equities manage a new cycle high of sp'1993.. making a hyper bounce gain of 126pts (6.3%) since the Tuesday close of 1867. Hourly cycle continues to threaten of increasing downward pressure into the close.. and across Monday. A natural retrace would be to the 1945/30 zone.




Despite a marginal new cycle high... I'm still leaning for a down wave.

Policy 1, can't short.. whilst daily cycles pushing UP.

2. Will go 'moderately' long... next Mon/Tuesday.. if 1940/30s.

Holding to a broader bounce into FOMC week... 2050/70 zone... which would certainly merit being long.. if correct.

time for tea