Thursday, 29 November 2012

12pm update - waiting for a rollover

The hourly cycles are very close to rolling over, and we might see strong confirmation by the close. Red indexes are viable in the late afternoon.




Kinda tired, its been a busy few days. Now its just a case of waiting.

*I am now also short the overhyped and overvalued FB from 26.50. Seeking $20 within 3-6 weeks.

time for lunch :)

UPDATE 12.30pm  With the politicians talking again, Mr Market is all over the place.

updated 60min chart, with possible new down channel.

I'd like a close today 1405/00. I certainly don't want any breaks >1420, but I can sustain that..if necessary. I am pretty confident of the overall outlook. So long as we don't break and hold the 1440s, should be good.

What is important to recognise, a daily close <1400, would be significant, and probably confirm that wave'2 is complete.