Thursday 2 August 2012

3pm update - closing hour battle

It could be a bit of a battle in the closing hour. We are certainly some kind of baby bounce, and we're moved from 1354 to 1362 already. First resistance is the 10MA around 1368.

VIX remains weak, -3% or so.


sp'60min, rainbow



sp'daily5


Summary

I'm staying focused on the bigger picture, bears must see 1340 broken within a few days to build further downside momentum.

*I am looking for a lousy jobs number in the Friday pre-market, and am seeking a close in the 1330s.