Thursday 8 November 2012

3pm update - closing hour ramp ?

Market is still lower across the board, but the VIX remains red, and is a real anomoly today. It is highly suggestive of an index wave higher into the close.


sp'15min


Summary

*I have added a VERY unreliable 'best guess' count (black) for a possible C' wave, which may last into early tomorrow.

At best, right now 1400 looks a stretch, but we've seen time and again, the bull maniacs could yet hit 1405/10.

That would make for a VERY good risk/reward short early tomorrow morning.

So..as things are. I'm sitting it out until early tomorrow. All cash..and full of ideas.
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If we somehow fall into the close, <1380, then that sure doesn't bode well for Friday. Yet, VIX says 'no fear'

back after the close