Friday, 3 August 2012

12pm update - Bears routed..again

Well, the notion of a possible double top is slipping away as sp' hits 1393.

The only indexes yet to break about the recent peaks (equivilent to sp'1391) are the Rus'2000 and the Transports, although that's not too surprising, since they have been weak for many months.


sp'60min, rainbow



VIX'60min


Summary

No sign of a top, no sign of a turn. Awful end to the week for the bears.

All thats missing is Bernanke and Draghi making some 'bullish' comments.