Tuesday, 10 July 2012

Closing Brief

A very difficult day for many, not least yours truly. The opening gap broke above the bear flag..and all seemed lost by 10am. Yet..it failed...and the rest of the day saw a very impressive reversal that even took out the first line of 1340.

What is paramount to keep in mind right now, bears need to see a break of the lower channel line (see daily charts) around the 1330/35 level.

The closing hourly index cycles...





Bear victory..but need further declines <1330 to clarify things..along with VIX'20

More across the evening, on what has been an important day.