Tuesday 23 October 2012

Closing Brief

A bad day for the bulls, with a VERY important close below yesterdays closing hour spike. The VIX confirmed the significant declines.


IWM'60min



Dow'60min



Sp'60min



Transports



Summary

A good day in bear land, with a particularly weak close.
-
I am short, seeking 1400/1395 tomorrow..or no later than Thur/Friday.

A close below the recent cycle low of sp'1397 would open a mini-collapse door, as low as sp'1325 within 3-5 trading days, with the VIX at least 24/26.

More later.