Wednesday, 28 August 2013

11am update - minor bounce

The main indexes are moderately higher, but there is no real power on the upside, and a close in the 1640s looks difficult. Metals and Oil are both higher, as we are another day closer to more 'humanitarian' intervention in a sovereign state. Bullish...yes?


sp'60min2


Summary

I'm kinda at a loss as to what to highlight this morning.

Market is relatively quiet..and we are probably in a simple holding pattern before the next wave lower.
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I realise plenty of people out there are touting '5 waves complete', but then..just what the hell are they expecting across the next few weeks?

A ramp to new historic highs?
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VIX is a touch lower, but I'm not overly concerned. The low 20s look a very valid target, on the bigger daily/weekly charts.

It is Thursday yet? I'm already tired of today.