Wednesday, 27 February 2013

10am update - another morning with Bernanke

Good morning. Mr Market is little a bit confused. Minor opening chop. The micro 15/60min cycles are problematic, we could see a snap lower at any time, but we're set for a bullish MACD cross on the hourly within the next hour or two. Metals looking a bit weak, gold -$7




Things are unclear. I'm sitting back.

I'm still seeking a fifth wave 1480/75, but those hourly index charts are threatening a snap higher around lunch time.

A move to 1505/10 is very viable..before that final wave lower.

Those seeking a re-short..would probably be better to at least give this nonsense another 3-4 hours to play out..and see where we are.

updates...across the day :)