Wednesday, 10 September 2014

3pm update - very marginal situation

Equities continue to see minor chop. Price structure on the micro 5/15min cycles is a baby bull flag.. with target upside to around 2000. Equity bears should be content with any daily close <1993. Metals remain weak, Gold -$8



*seen on the smaller 15min cycle, its a clear bull flag.

On any basis, today is merely just another day of minor chop

Problem for the bears tomorrow.. QE of $2bn in the morning, that sure won't help.

*I continue to hold a minor long-index block from sp'1991... will consider adding if we see the 1970s.

3.07pm.. baby bull flag is being confirmed.. with a move to 1995. A daily close in the 2000s would understandably dismay many bears.. and would make for a bullish engulfing candle on the daily cycle...

3.41pm.. sp'1996.... a real tedious day....

Perhaps 2000/2005 by 11am tomorrow... and then 1970s Friday?

Regardless, nothing for anyone to get excited about today.