Monday, 20 May 2013

10am update - hourly charts suggest weakness

The main indexes are due at least a minor pull back, but we're very likely only looking at 1%, if that much. VIX is 6% higher, but still in the low 13s. Oil is weak, -0.5%, and looks set for more significant declines later today, perhaps into early Tuesday.



A marginally interesting start to the week. Hourly index charts look like we could cycle lower across today, and perhaps into early Tuesday.

Bears should keep in mind, we have a mid-size POMO on Tuesday..the day when stocks only go up, remember?

Oscar video..

Its no surprise that he is as bullish as ever, but then..he has been right for most of the last six years.

Oil is lower, I may go long near the end of today... 33.60s would be the target, but that looks unlikely today.


back at 11am