Friday, 27 June 2014

11am update - tedious chop

The earlier moderate declines have failed even quicker than yesterday. Market appears stuck in the sp'1960/55 zone..and that will likely be the weekly close. Metals are holding slight gains, Gold +$2, whilst Oil is flat.



*I'm still looking at the recent action as a sub'4, as seen on the weekly chart.

Now, its entirely possible..if not somewhat likely, we'll see a further minor wave lower early next Mon/Tuesday, before pushing back upward into Thursday July'3 - for the 3 day holiday weekend.

Mid July is still lining up to offer a possible intermediate top.

As day at a time, but for now...I ain't shorting anything for another 3 full weeks.

Naturally, WFM is making new multi-week makes for another pointless trading week in my world.