Friday, 22 June 2012

3pm update - who wants to hold long across the weekend?

Market still battling away with gains of almost 10pts on the SP'500. There is still a chance the algo-bots will somehow do a stop-sweep all the way up to 1340 in this closing hour.

Considering the daily, weekly, and monthly cycles, today's action is mere noise in the grander picture.


Want to take a guess at what next weeks candle will be ?



We're in the target zone I set earlier this morning. It remains a pretty clear bear flag, next downside target is 1305/00, possibly 1290.

More after the close...