Monday, 1 October 2012

11am update - spiky, but close to a breakout

The opening market rally is largely holding, but its starting to look a bit spiky on the hourly cycle.

Bulls could do with a break over 1460, but clearly, the bears are in real trouble again. Baring a strong reversal with a red close, this is not looking so great. We're a mere 20pts from the 1474 QE3 top !

sp'60min - H/S outlook


Bears need a close <1440,
Bulls merely need to hold 'some' of the gains.

*VIX is flat..which considering the index gains, is a little surprising.

back at 12'