Wednesday, 11 December 2013

10am update - minor support fails

Equities open with some mixed chop, and the sp' has failed to hold what was a bull flag on the hourly cycle. Bears have a narrow window to knock the market lower, <1779, to complete an ABC scenario. Metals look weak, stuck under broken support - a significant drop is viable into year end.


GLD, daily


So...we're seeing a market that is actually starting to slide...surprisingly.

..the ABC scenario is back on.

Bears arguably have a very short window until early tomorrow, when another truck load of QE-pomo is delivered. For all those on the short you have a chance...

Downside targets

Primary 1775/70
Secondary: 50 day MA around 1760.

10.14am.. well, no QE real news due...bears have their chance to make their C wave to the low 1770s..which seems 'best case'.

Weakness everywhere...even the FB is lower by 30 cents..ohh the humanity!

10.32am...washing out all the weak bull hands. Another 15/20pts lower..and that should be it.

I realise..a lot will be relieved at this decline...the much needed C wave ! You're getting your chance to exit !