Wednesday, 27 February 2013

11am update - morning ramp

Mr Market is picking up a little momentum. The hourly index charts are seeing some bullish signs..and thats all being confirmed with a VIX that is down another 10% - after yesterdays big decline. Metals remain weak.




Clearly, near term trend remains upward..and there is no point in shorting this..yet.

Bulls should arguably be tightening case of a reversal, which could easily come at any time.

*I've a soft target for the VIX of 15/14.50 within the next few hours.

If we can level out on the MACD cycle by 3pm..I will seriously consider a re-short - for a fifth index wave lower across Thurs/Friday

back at 12pm