Tuesday, 20 August 2013

2pm update - battling higher

There is no doubt now, a move back to the sp'1680s is well underway. The two market leaders - Trans/R2K, are significantly higher by 1.1% and 1.5% respectively. The only issue now is how many want to buy >1685/95. VIX remain lower by 4%




There is moderate risk of a minor down wave, but the 1630s now look very unlikely.

For the bears...its just a matter of waiting again.

Even a move back to the 1680s..and the weekly chart candle should remain blue..and the mid-term target of 1575/50.. remains on schedule.