Friday, 22 March 2013

11am update - holding onto gains

The market is holding onto moderate gains, and the bulls look pretty comfortable in the sp'1550s. The hourly charts are suggesting the 1563 high could be broken today, with the 1570s on Mon/Tue. VIX looks especially weak, -3% so far




Interesting morning, certainly the bears are completely failing to see any follow through after yesterdays weak closing hour.

From a count perspective, I'd expect this sub'3 to continue higher all the way into the close.

No doubt, that would really annoy those bears who were shorting into recent declines.