Thursday, 19 July 2012

11am update - lousy holding together

Despite the set of lousy econ-data, the market remains holding together. I'm actually not too surprised. Any major big cycle will take a few days just to get some downside momentum going.

The hourly cycle remains primed to go negative cycle in the next few hours, so I'd look for increasing weakness as the day proceeds.


VIX, daily, rainbow


A long day still ahead, lets see if the moon maniacs (a fair few were suggesting July'19 as a cycle high, matching the new moon) were right ;)

VIX remains marginally green, and we do have the very sign of a turn..a blue candle!

Stay tuned!