Thursday, 31 May 2012

2pm update - fail..confirmed

Market bounce appears concluded on the 15min cycle...we have a possible confirmed fail at the hourly 10MA




So...bears need a good close under the hourly 10MA on the indexes, and a green VIX, preferably in the 25s.

Friday we have the monthly jobless data, who wants to risk holding long overnight? I didn't think so.