Thursday, 31 January 2013

Closing Brief

A little weakness in the closing hour, and its possible that the bear flag I had suggested has already now been confirmed.  The VIX crossing back to green into the close was a further small positive sign for the bears.





A pretty mess closing few minutes, and it sure looked like 'someone' wanted to pin the sp @ 1500 to close the first month of the year.

Regardless, we didn't close @ 1500, but the daily close is certainly a little disappointing for the bears.

The index cycles go negative cycle tomorrow, so...either we see our first 0.75/1.25% move lower tomorrow...or this down cycle is dead on arrival.

more later...