Tuesday, 26 June 2012

11am update - Permabear back on the short train

Well..that was a pretty exciting opening 90mins. The first 30mins was a bit of a mess, especially for IWM/Rus'2000 index. VIX opened lower by 3/4%...nothing too dramatic.

*econ-data at 10am ...both sucked..but somehow market managed to still get a micro-bounce.

As noted earlier, I am short from sp'1319.75.  Yeah, so long as we don't break over that, I seem to have managed to re-short at the very top of the bounce.





I will look to stay short until 1300/1290 tomorrow. That would make for a nice exit, before a potential intra-day bounce.

Primary trend remains DOWN.

*MACD cycles set to snap lower tomorrow. -more on that in the next hour.