Tuesday 25 June 2013

2pm update - next target is sp'1595

Market is still a bit shaky, but still holding reasonable gains. Next target is sp'1595, which is possible by the close of today, but more likely early Wednesday. Those bears seeking a re-short, should probably sit it out overnight. There doesn't seem to be a hurry.


sp'15min



sp'60min2' - bol'/Keltner


Summary

The smaller 15min cycle - with fib' levels, shows the next target of 1595.

No reason to expect that not to be hit.
--

What I am curious to see early tomorrow is whether the bulls gap the market higher..into the 1600s..but with an immediate fail.. with black candles on the hourly index charts.

Similarly, doomer bears should be seeking a reversal candle on the VIX at the Wednesday open.
--

First things first though...lets see how high the bull maniacs can ramp this into the close.
-

Stock of the day remains..the failing...

BKS


I can only hope the board are feeling the pain today, as they deserve for their utter incompetence, in what should be a simple chain of book stores.
--

almost as bad..are the miners...

CNX - one of the better ones, is still getting trashed



No real support until 26/25, even then, that won't likely hold. Ugly sector.


2.37pm.. Bulls making a play for the 1590s...and that will no doubt really annoy those still holding short from the 1560 low.
--