Wednesday, 19 June 2013

10am update - minor weakness

The market is trading a little lower, but its all noise, especially ahead of the FOMC announcement. Hourly index charts are rolling over, and it should be noted the 'best bear case by the close is sp'1620, however that seems near impossible.




You can clearly see the rollover on the hourly MACD cycle, but then, we have had the same situation in the past 3 days, only for the market to quickly rally back.

To go fighting the primary trend.

To go risking a major snap lower.

*I'm sitting today out. It'll be easier on my stomach, urghh.

Thursday will be a lot easier to trade, and it should be noted, will see a mid-size QE of $3bn

stay tuned!