Wednesday, 24 July 2013

2pm update - still minor moves

With the sp'500 lower by 0.5%...everything is clearly falling apart, and the bears are back in control...right? Hourly index charts are not showing a turn/floor yet, but even the low 1670s look difficult. The metals and Oil have continued to slip, with Oil -1.8%


sp'60min


Summary

It still all ranks as small moves so far.
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The only really dynamic action is in the metals/Oil.


SLV'60min


*I remain long SLV, and will only get concerned if <19