Wednesday, 6 August 2014

2pm update - baby bull flag

US indexes are holding minor gains. Price structure is a baby bull flag, which offers a daily close in the mid sp'1930s. Metals are holding strong gains, Gold +$20, whilst Oil is -0.8%.


sp'15min


Summary

*need to hold the sp'1917s or so in the immediate term.
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A pretty clear micro bull flag.... we should see further upside into the close.

Eyes on the R2K...and the VIX for extra confirmation.
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2.19pm.. target zone will be 1940/45. A weekly close in the 1950s would be viable...and give everyone something to chat about across the weekend.

notable strength: DRYS +5%.  TSLA +4.5%


2.30pm.. its turn time.... seeking 90mins of upside into the close..

Anyone still short...its arguably the last decent chance to exit. 

As ever..stops solve the indecision!