10am update - seeking a small wave higher

Its a choppy mess this Friday (opex) morning. Again, there is a touch of weakness out there, but we are due a noticeable wave higher, which is seen most clearly via the transports index on the hourly chart.


trans'60min

sp'daily5

Summary

A long day ahead, it will probably be a bit of a mess, one that confuses traders with lots of a minor chop.

I'm looking for a black wave'4 - as best seen on the hourly chart. Its possible this wave will complete BEFORE the Friday close.

We'll have a much better idea by 2-3pm.

As it is, I'm sitting back, and waiting for this nonsense to cycle back upward. 


UPDATE: 10.04am original target of sp'1345  HIT  :)