Tuesday 31 July 2012

3pm update - Closing hour churn

Well, the 1380 level is holding up pretty well. A close above it looks more likely than not.


sp'60min, rainbow



vix'60min



Summary

Mr Market is merely in a holding pattern until tomorrow, awaiting the results of the FOMC jury. Urghh

* the hourly MACD cycle could easily be flooring at these levels, and as others out there note, a move into the 1390/1400s is viable. Whether that makes for a final wave'5...no idea.

All I am sure of right now, all declines until 1325..not to be taken seriously.

More after the close