Friday, 9 August 2013

11am update - battling it out

A real messy morning so far, opening declines..minor bounce...then a snap lower. Hourly index/VIX cycles suggestive of increasing weakness into the late afternoon. A close in the 1680s looks possible, not least with no sig' QE until next Thursday.




*there should be easy VIX upside into the low 14s

An annoying..and messy morning.

As noted earlier, at least the hourly charts are on the side of the bears into the Friday close.

So..lets see if we can break into those 1680s again..that should open up the target of 1675 - where I'm guessing we'll get real stuck.

11.36am.. well, its kinda interesting, certainly.. sp'1700 is starting to slip away from the bulls.

1675 remains the exit target.