Tuesday, 6 November 2012

3pm - closing hour breakout?

With one trading hour left, the market is still holding onto effectively all of the gains. A close >1436 would be extremely bullish. Right now, bears can only 'hope' for something <1427. Despite the uncertainty of the election, VIX is 6% lower, and showing no sign of levelling out.




A rough day in bear land, there can't be many left to be short-stopped out now.

Bulls are starting to get more confident about a post election super ramp into year end, sp'1500/50 is within their sights.

Weekly/monthly charts are still suggesting weakness, although that signal will vapourise if we get a few closes >1440/50.

A long night ahead, and as many realise, there may be no clear result for some days..even weeks.

More after the close.