Monday 11 June 2012

12pm update - daily cycles..for perspective

Whilst the market continues to swing all around, confusing just about everyone...the daily cycles will help to keep things in perspective.


sp' 4month close view



iwm, bearish outlook



Summary

I think most important of all right now - especially for the bears, the VIX is NOT confirming this early fail/move lower in the market.

IWM could easily fall to 75, which would equate to sp'1300 or so. That may well be the base of wave'B. If it is, that still means we could hit 1350/60 by the end of this week.

Primary target remains 1350/60. Until then, I'm sitting this nonsense out.
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stay tuned!