Wednesday, 7 August 2013

12pm update - bears battling

With sp'1709 now apparently the high, the bulls are fighting a losing battle in each of the bounces to come. First key downside target is the 50 MA, currently @ 1650. VIX is higher by another 7%, but we're still only talking about the 13s.




Well, it does seem pretty clear now.

Market is exhausted, even the cheer leading maniacs on clown finance TV have come to realise it.

So, for those yet to join the short-train, the only issue is finding a decent entry level.

As it is, I'm still inclined to wait. The hourly MACD cycle is VERY low, and with a sig' QE tomorrow morning..I'm just overly cautious.

Time for lunch!