Thursday, 23 May 2013

12pm update - partly QE inspired bounce

This mornings bounce is natural, but is no doubt also being fuelled by the latest 3-4bn dose of POMO. That market looks set to battle higher for another 2-3 hours. Best guess is sp'1655/60, by 2-3pm, and by then, the VIX will be red. USD is very weak, -0.8%



Everything looking on schedule.

First upside resistance, the 15min'  10MA of 1568..but that is falling fast.

VIX update from Mr T.

Market continuing to rise...

12.33pm... sp'1660 looks just about possible, I'd be very surprised if we manage anything >1665. A close in the 1670s would be.. problem, but the daily charts all suggest Friday could be market carnage.

I remain hurry..yet.

12.40pm.. minor down cycle..could be a B wave.

The patient bear..gets the better price (usually)