Tuesday, 19 June 2012

3pm update - looking forward to Fed day

The 15 and 60min cycles are over-stretched on any basis. A little weakness in the closing hour is understandable, yet a close anywhere in the 1350s would still make for another victory for the bulls.


*initial support at the hourly 10MA of sp'1353.


Bulls should be content about today, they have a falling dollar/rising Euro, reasonable gains across all sectors/indexes. Even the VIX is largely flat, despite the uncertainty of the FOMC decision tomorrow.

Trading will be VERY much simpler in less than 24 hours.

...time for England vs Ukraine !

More after the close...