Thursday, 28 June 2012

Closing Brief - hyper last hour ramp

Urghh..a nasty and twisted closing hour. It would appear that Merkel 'cancelling press conference' is now the best news ever!  Clearly, we've seen a hyper reverse cascade UP, as the bears cover..and even some panic buying by the bull lunatics.

This nonsense changes nothing, although it IS a problem for the monthly cycle, where I would still want to see <1305 by the Friday close.

The closing hourly cycles....



Sp, 60min, H/S chart


Nothing has changed. This latest closing hour madness is just a symptom of the idiocy..and sickness inherent in the mindset of the bulls. The cancellation of a press conference, and thats now touted as 'good news'.


Those buying into this rally will get nuked in the days ahead.
Ohh..and Germany is now probably less likely to want to bail out Italy.