Friday, 24 May 2013

2pm update - still climbing

Market is still broadly climbing from the earlier sp'1636 low. There is high risk of a late afternoon ramp into the low sp'1660s. Primary downside for next Tue/Wed remains sp'1630/25. VIX is holding minor gains, but looks set to close red, Oil looks to close moderately higher.



The 50% Fib' is the target for the close.

The only concern for those bears who might be looking to short the ramp into the close/weekend, is that of a few hours higher early Tuesday.

Lets see where we are around 3.30pm.

I remain highly open to a re-short, looking for a move from 1660 down to 1630/25.

stay tuned!

*prime time for a snap high.. 2.15/30pm... we'll soon see!

2.20pm...right on schedule...its kinda nice to see a market acting like this.