Friday, 13 July 2012

2pm update - sleepy Friday

Its starting to get somewhat tiresome this afternoon, can we close now? The VIX seems to be content to close -7% @ 17.00. That's pretty low, but a brief move to the 15s seems very viable sometime next week.




The hourly cycle would be suggestive of some sort of B' wave pullback, right now that would be likely Mon/Tue, which would also suggest a final C' wave up either late Tue or Wednesday.

We'll see. What is clear, the daily cycle MACD is turning back upward, and will probably put in 3 or 4 positive blocks, forming a third little tower...and then...we can collapse.

Its actually kinda exciting, if you think about the fun that might lay ahead in the latter half of July  ;)