Thursday 27 March 2014

12pm update - market struggling

The market managed a fast bounce from sp'1842 to 1855, but it has already failed.. with imminent threat of this unraveling today. VIX is holding moderate gains of 3% in the mid 15s..clearly..still a low VIX. Metals are weak, Gold -$5


sp'15min



Summary

*looks like an intraday double low...1860s now look difficult..but maybe 1856/58 ?

So long as we don't break the early low, this could merely be a B wave..with C into 1-2pm.

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VIX update from Mr T.



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time for tea!


12.12pm... market still just holding the floor...still viable wave higher into afternoon....

12.23pm.. double floor..confirmed....lets see how high we can get by 2.30pm !