Thursday, 11 September 2014

3pm update - messy day

Equities continue to see minor chop, with the sp'500 having turned fractionally positive.. if briefly. A daily close in the low sp'2000s is possible, but there still looks to be viable downside to the low 1970s.


sp'15min


Summary

Without question, price action is a bit of a mess.

A fair few are calling this a B wave, but really... whatever you want to call it... it is certainly 'choppy'.
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Oil has notable gains of 1.0%... whilst Nat' gas still looks set to fall -2.8%
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3.18pm.. a nano bull flag.... suggestive of upside into the close.

Regardless, I'll still be seeking another wave lower into the Friday close. Right now, with price action as muted as it is, the sp'1970s no longer look viable until next Monday.