Friday, 29 June 2012

Closing Brief - Urghh

A disturbing day for the bears...and a clear victory for the bulls to end Q2.

The closing hourly index charts hold no real promise that next week will start off well for the bears, not least when you consider the daily and the weekly charts which are now turning outright bullish.

IWM, 60min

dow, 60min



What else to say, other than it was a bad day. Who was going long before 3pm yesterday? It remains scary how quickly things can turn in this market.

Maybe some bits and pieces across the evening, but there will be the usual bigger updates over the weekend.