Thursday 31 May 2012

3pm update - falling into the close?

Its that time of day again...do we see a mini ramp..or fall into the close? The 15min cycle is maxed..and offers good downside, but the hourly cycle is somewhat problematic. With a red VIX, bears have a problem right now.

Lets see how many of those bullish rats get twitchy, and decide to bail ahead of the jobs report tomorrow.


Sp'60min



VIX'60min


Summary

Bear targets for the close...
a close under the 10MA - currently 1309/10
VIX..at least marginally green, preferably 24.75/25.25

More after the close...