Friday, 27 April 2012

3pm update - One hour of Crazy left to go

Thank the gods, its almost time to wrap up this pretty disturbing week. I was just updating all the weekly charts (I'll post them later this evening- as part of the weekend coverage), and those weekly charts sure look ugly from the bearish perspective. We even have a few bullish engulfing candles, and those are often a major warning that a new up cycle is beginning.


The VIX is again falling to pieces, looks like VIX will fail to close above the 10MA on the weekly, so that's yet another failure for the bears.

Its almost time to get some tea/coffee, and say farewell to another bizarre market week, in what remains a pretty sick and deluded market*

*AMZN results were a failed mess -this is of course not the general opinion. Mr Market, and those clown channel hosts/cheerleaders were thoroughly delighted with AMZN! I'll delve deep into AMZN at the weekend on the Fair Value Stocks page.