Monday, 18 June 2012

2pm update - the patient the good bear

The hourly cycle looks a bit toppy, and we certainly could close marginally red. Yet, sp'1350/60 target zone looks still very much on track.

Whilst the market is relatively quiet...a reminder on my primary near term outlook into July/August. Both the weekly and monthly cycles support this.

sp' daily'9, bearish July outlook



The hourly cycle shows a near perfect standard ABC wave'2. Everything is on track. The next key fib' level is that is one target to keep in mind this Wednesday - as a 'spike high' after the FOMC announce their latest meddling in our supposedly 'free capitalist market'

*not sure if there is a problem with Disque today. To the person who posted via google, it only appeared to me via email, but thanks for your kind comment anyway.