Monday, 28 January 2013

Closing Brief

A pretty quiet day in market land. There really is a total lack of bearish momentum still. Its been almost a full month since we had a 1% day - the 'bloodbath' as Zerohedge infamously called it, which of course now seems a case of classic 'bearish hysteria'.

sp'60min4 - retracement levels


The fib' level chart I'll keep updating. I think its fair to keep a target somewhere in the 1450/40 zone, although the former will be difficult after this week - due to rising support/channel on the daily charts.

*A quiet day..hence....less of me. But then, that's perhaps a good thing.

I think the big price action will be this Wednesday-Friday.

More later on the VIX..and those Indexes