Tuesday 5 November 2013

3pm update - weakness into the close?

On each of the recent minor up waves, the market remains stuck around sp'1766/68. The micro 5/15min cycles are both suggestive of weakness into the close, and the hourly/daily cycles are also moderately in favour of the bears.


sp'5min


Summary

Certainly, I'm not calling for the 1740s, but the upper 1750s are viable for the Tuesday close.

Lets see how many of the rats want to sell.
--

TSLA earnings at the close...and it will surely be a major mover.


3.13pm.. micro cycles are saying we go down..from here... sp'1766.

3.25pm... and down we go. !750s will be..difficult, but all the cycles ARE lined up for the bears.

3.52pm... sp1764.. a  huge 2pt collapse.   ...tiresome.