sp'60min
sp'daily5
Summary
Daily charts are especially bearish now, and into Tuesday.
The 20day MA is next target @ 1633, I don't expect that to hold.
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I remain holding short, looking for an exit @ sp'1630/25 later today.
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10.05am.. I'm getting a bit restless, am up considering on my IWM position, and I'd like to end the week on a good gain.
stop placed, will probably get kicked soon!
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10.09am...stopped out of my iwm.
I think my week is done. I won't be looking to re-short across the long weekend, unless we get some kind of bizarre bounce to 1660s.
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10.14am...there is 'small' chance what we've seen is actually the B' wave....but really, thats VERY hard to guess.
Regardless, I'm done for the week. Now its just about watching for entertainment purposes...and seeing how the market copes with no QE.
10.20am.... 15min cycle looking like it might have put in a marginally higher low...
If so..bears need to getting the hell out here!
I still think secondary target of sp'1630/25 will be hit, but it feels like that is now likely Tue/early Wed.
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10.29am.. such a borderline situation, but it increasingly looks like the bears are done for the day.