Tuesday, 23 April 2013

2pm update - hourly charts now look stupid

With the AP twitter feed hacked, that bit of brief drama had many falling out of their chairs. The SP' flashed lower by 15pts in barely a minute. Naturally, things have rebounded, but...as stated prior to this event, a rollover into the close remains viable, with VIX in the 14s.




Well, I'm still reeling from that flash-drop.

Regardless of that nonsense, I'm still seeking a rollover on the indexes.

*I hold heavy short into tomorrow

2.20pm..market STILL looks like its due to rollover into the close and early Wednesday.

Bears need to  break the rising channel..which at the Wed' close will be around 1570.

So....a Wed' close <1570..and bears have a chance of seeing the market fall ALL the way into the weekend.

2.31pm..market starting to slide again..back in the 1573s. A close in the 1560s would be 'useful', with VIX 14s.

Looking at the hourly VIX chart...its suggesting market to drop kinda hard tomorrow., there is major downside potencial.

sub'wave'1 of the minor'3 ? Hmm....won't be long to wait.