Tuesday, 14 August 2012

1pm update - hourly cycle maxed ?

As I type, hourly index cycles are getting toppy, and showing a provisional sign of rolling over.

One candle does not make a trend though. Lets see if we can get a few consecutive hours down by the close.


sp,daily, rainbow


Bears should be seeking a red close. The rainbow daily charts been suggesting a 5 day top, underlying daily momentum IS weakening, yet this morning we saw prices melting up.

It remains a real mess, all based on near zero-volume.