Friday 8 June 2012

10am update - push the button?

Market is showing exactly the weakness I was looking for. This should in theory be day'2 of wave'B, if I'm right, then Monday should show some reasonable gains, with 1340s soon enough. The bigger target by the end of next Thursday is 1350/60.


sp'60min



iwm'60min



vix'60min



Summary

Waiting for the 60min cycles to level out on the MACD cycle, that may take a few hours, so there is not really a hurry. VIX is confirming the move, and it will important to keep an eye on that this morning, VIX looks like it could get to 23.50/24 by lunch time.

Yes, I'm actually planning to go long today, urghhhhhhhhhhh. But...if I can't see a near perfect entry..I'll sit out the C' wave up.

More later