Thursday, 17 January 2013

10am update - black candles..everywhere

The market breaks the mid-Sept' high of hit 1478, but is that it? There sure are a lot of black doom/fail candles out there in the opening 30 minutes. If this was a brief spike to the upside, bears should seek a close in the mid 1460s. VIX opened a touch higher...surprisingly.




Its a very tricky situation.

We have the break higher, but there is already a little weakness out there, and the VIX is not confirming the break higher at all.

*some individual charts coming..on what might be an opening failure



Will be interesting to see how both close.

UPDATE 10.20am.. so much for that is 1479..and climbing again.

Trans/Rus'2000 are especially strong..and cruising to new highs.

This market is a freight train...and nothing appears to be able to stop it.