Friday, 26 September 2014

10am update - seeking a back test

US equities open a little higher, and there would seem a pretty high likelihood that the market will at least back test the broken neckline of sp'1978. Metals resume the slide, Gold -$5, which is naturally impacting the miners, the ETF of GDX -1.0%




So.. some rather muted opening action.

Bulls should at least be able to manage a minor rally.. if only to get stuck by 11am.
*I am seeking to short the indexes around 1976/80... no later than 2.30pm

10.01am.. This is pretty fascinating to watch... minor chop....and another attempt to push higher...

Prime time for a turn would be 11am... with a red close in the 1950s... but I realise that would be a bold outlook.

10.07am.. Eyes on the VIX... target zone.. 15/ 14.80

10.28am... Bulls still battling this higher...if slowly.

Seeking indexes to max out around 11am... 1978/80.

10.42am... the chop continues... with a touch of upside......

Typical turn time remains 11am.....