Friday, 19 October 2012

3pm update - gloomy doomy final hour

With increasinlyg lousy earnings, Mr Market is taking the opportunity to sell off, and its starting to get real interesting. The weekly charts are ALL warning of 'trouble' week.

Even the VIX is starting to warn, with a 16% gain, now around 17.50





Bears should be seeking a close <1427 - which would be a massive victory, and open a mini-crash door next week.

But..with one hour to go..lets see if we can get the 'bonus' close <1427.

Next support is the very important main cycle low of sp'1397, if that is broken..then door IS open.

more after the close