Tuesday, 26 June 2012

1pm update - another chance to short

The market's morning weakness has again reversed to test the opening spike high of 1319/20. It is arguably a bonus opportunity to re-position for those who have not already done so.

Daily cycles are warning of a test of the big 1300 level tomorrow. I'm expecting it to not hold.




I am content to ride out any minor up cycles. The bigger daily cycles are what matter, and they are warning of trouble for Wednesday.

As the smaller cycles clearly show..we are merely in another bear flag. We saw what happened to the flag from last Friday.