Thursday 29 August 2013

1pm update - afternoon rollover?

The hourly index/VIX charts are offering a possible turn, with a rollover this afternoon. Bears should be looking for a daily close <1639, which should confirm continued underlying weakness into the weekend..and next week.

sp'60min


sp'daily5


Summary

Its pretty quiet out there, so it won't take much of a news report of 'military attack imminent' to send the algo-bots into a panic.
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For the moment, I'll gladly settle for any close back in the 1630s.


1.29pm... a micro H/S setting up ?



Just an idea..and a red close would arguably cancel it.