Thursday, 16 August 2012

1pm update - bears throwing in the towel

I can imagine many will be throwing the proverbial towel today. After all, a 9 day top...and now we're confidently trading over 1410, with the next obvious target of 1422.

So, the strength seen in the tranny and the Rus'2000 yesterday was indeed a warning.




I suppose it could be said the VIX is still higher than it was when the main market was lower, but at these levels, the VIX is almost entirely unreliable.

It would appear we'll at least test the 1422 peak in the coming days.

No volume.....melt up.

How about another 5-10 months of this crap?  Great thought huh ?