Friday, 29 June 2012

3pm update - one hour left of 2012 part'1

Its time for the last trading hour of the first half of the year. Yeah, the disturbing thing is we're already about half way done with this year. The second half can't be any worse...?


IWM, daily

*on any basis, IWM is starting to push its way through even the most lenient descending trend line.


The hourly 10MA - now at sp'1340 is first soft support. So, the bulls could easily tolerate a fall to 1345 Monday - not that I expect it anyway.

Its looking like a break/gap over 1363 will occur Monday. IWM/Rus'2000 already is above the FOMC highs..and that has to be a major warning that the sp/dow. etc, will follow.

A little more after the close.