Thursday, 4 April 2013

3pm update - how many combat drops man?

The market is trying to stage its usual latter day recovery-ramp. USD has seen a very strong intra-day swing, and is now a touch lower. Gold and Oil are hence recovering. VIX is back to red. Daily/Weekly cycles continue to warn of general weakness.



Upside max' target remains somewhere in the 1562/66 area.

*standing by to short into the close, seeking sp'1540 tomorrow.

I refer you to...

updates..into the close

3.05pm...we're probably in the last 5-15mins of this rally.

Eyes on the 5min chart... sp'1561/62 seems just about viable.

3.15pm...if sp<1557....I will chase lower...and short.

otherwise..still waiting for 1561/62

UPDATE 3.20... SHORT ..from sp'1557.

It no longer looks like 1560s viable again.

So..I am short, will hold overnight, seeking sp'1540 as an exit tomorrow.


I suppose it could be a micro-bull flag, and we still close in the 1560s..but regardless, MACD cycle looks weak...hourly charts look a weak mess.

3.30pm..hourly chart..we have 2 topping spikes so far. If we close like this..or lower, I'll be more than content.

Lets be clear, there IS threat of upside tomorrow, but daily/weekly charts say...'short' to 1540.

There is the 50 day MA @ 1530..which would be a particularly attractive level tomorrow afternoon.

3.40pm...bears just need a close <1556. That'd help to keep things under control.

3.45pm.. they sure are battling it out at 1557/58.

back at the close!