Monday, 1 April 2013

12pm update - waiting for a test of 1576

The morning wave lower is probably getting a few of the bears excited, but really, there remains no reason why we'd get stuck at 1570, and not make a challenge of the 2007 high of 1576. Daily charts look messy, but underlying upside is always going to be there with POMO.




The hourly count is a very unreliable one, but I'm holding to it, and am guessing we'll see the indexes max out on Wednesday in the 1575/80 area.

Regardless, I ain't meddling in any indexes..yet.

Metals remain a real mix. Gold is a touch higher, whilst Silver - having got smacked lower at the open, is now beginning a rebound..the only issue is can it break over EXTREME resistance in the 27.70s Tue/Wednesday. 

VIX update.. from Mr T

time for lunch.