Friday, 26 October 2012

Closing Brief

A choppy end to the week, with the main indexes closing largely flat, although the Rus'2000 was marginally red, with the transports moderately higher.





It was a long day..and a long week for many traders. The bulls ARE losing their grip, as best seen on the bigger weekly/monthly charts. The VIX remains very low, and I'm still waiting for a break above the big 20 level.

I am holding short across this weekend in late October. I remain trying to focus on the bigger picture, with those weekly cycles targeting sp'1325/00 within the near term. The VIX - especially on the hourly and weekly cycle charts is primed for a major leap upward, into the 24/26 area.

The usual bits and pieces across the evening.

Have a good weekend