Tuesday, 16 April 2013

1pm update - bears need to push lower

Mr Market has managed to hit sp'1570, which after yesterdays sour afternoon, is quite an achievement. Bears need to push lower into the close, preferably under the hourly 10MA - which by the close will be in the low 1560s. VIX is holding in the low 14s. Oil still weak.



I think the above summarises where we probably are.

Bears MUST hold <1580, and frankly, I'll be pretty disappointed if we don't close back in the 1550s.

UPDATE 1.28pm ...here is VIX, hourly..with a count

Sp'1540s..probably would still be a lower high on the VIX, maybe 16s, before slipping back again into OPEX.

1.44pm...rolling over? We'll soon see!