Thursday, 30 August 2012

Closing Brief

Finally, a little bit of price action! Market weak into the close, and close to breaking the baby bear flag. A good close for the bears.

However ,the VIX still shows little conviction of serious upside, only climbing 3% to the mid 17s





Bears should be content with today, especially the closing minutes. First downside target remains a very obvious '1380.

A lot will indeed depend on the Bernanke tomorrow, yet as ever, how the market interprets the words..even more important than the words themselves.

More later in the evening