Tuesday, 4 November 2014

3pm update - baby bear flag

US remain moderately weak, sp -0.4% @ 2009. Price structure is a rather clear baby bear flag, and it is offering the low sp'1970s tomorrow, along with VIX 17/18s. Oil remains weak, -1.6%.


sp'60min


Summary

So... we have a clear small bear flag on the 15/60min cycles... and a more significant drop should (in theory) occur across tomorrow.

The low 1970s look a viable target... which for me, would be a likely exit from my existing short-index block.
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Notable weakness: GDX -3.1%