Thursday, 14 January 2016

11am update - powerful hourly candle

It has been a bit of a messy 90mins, with opening gains failing, fractionally negative indexes, but then surging, as a short-stop cascade appears to have occurred. If we've a 5 wave decline from sp'2081/1878, then in theory... the next move is a 4-5 day rally to the 1956/80 zone.

sp'60min'2, waves



*the above equity hourly chart includes a wave count, but considering the weekly/monthly charts are screaming bearish, I've only MODERATE confidence in it.

For the moment, that is my best guess.

By default... no shorts until next Wednesday... at least until sp'1956. Considering the daily MACD cycle, there is even threat of the 1980s.. and that would make for a very comfortable level to re-short into end January.. and across the spring.

Here in London city...

Moody skies, with a touch of sun.... and with a damn icy wind.

time to cook