Tuesday, 12 June 2012

3pm update - closing...without a collapse?

Market is still holding up okay, with the hourly momentum cycle still crawling back upward - a bigger move to around 1335/40 is anticipated tomorrow.

sp'daily, fib levels



I like Fib' levels, but I'm not sure not a disciple of them. The chart above does suggest a broad 1345/65 range for the C'wave...and I'm certainly not going to even bother getting specific about such things in this messed up algo-bot market.

Seeking a close today somewhere around 1317/21. That would be a good close for the bulls, above the hourly 10MA of 1316

More after the close!