Thursday, 19 July 2012

2pm update - baby breakthrough

Well, today is flying by pretty swiftly so far. A lot of great econ' stories out there on Zerohedge, something to fill the time whilst the market is trying to churn out a top..and rollover.

Bears need to see a break through the hourly 10MA @ 1374...which is just about to happen as I type.




We've a break of the hourly 10MA, which is often a key initial sign.

Bears should seek a close under the 10MA by the close, anywhere <1370 is arguably a bonus, considering the relentless melt up that the algo-bots have been doing again lately.

Only with a break of the lower channel line..currently 1362 can the bears claim a turn is possibly starting.

*VIX about to go green again...we might yet close with a blue candle on that rainbow chart ;)