Wednesday, 8 August 2012

3pm update - closing hour weakness

The smaller cycles offer the potential to allow a close below the morning low of 1394. VIX remains marginally lower.



Can we close 1393 or lower by the close? Hmm, it sure won't be easy, there just seems a total lack of momentum in either direction today.

I do argue there is slightly more chance of a red close than a green one, even though the daily cycle is still pushing higher.

More after the close...on what remains a very quiet day.