Low Volume Stall, And Bulls Offer Bears Little Confidence
Declan Fallon | Jun 15, 2014 01:24AM ET
Bulls didn't want to offer bears any confidence and Friday's low volume (small) gain was enough to keep them away. Optimist bulls could say Friday finished with bullish inside days/bullish doji - but such patterns only have merit in oversold markets, and this is not an oversold market. However, there are plenty of long term bulls (me included) who have limited skin in the game and are looking at opportunities to get in. I'm waiting for a 10% discount on the 200-day MA, but others won't be so patient and may look to nibble on Monday.
For the S&P 500, the 20-day MA is fast approaching the market even if the S&P is dawdling down to the MA. The S&P may kick on once the 20-day MA is tested.
Back to the World Cut, have an accumulator bet with England as winners (as per Nate Silver). Spain disappointed the bet in an entertaining game, so it's a question of getting back what I can. After the Uruguay defeat to Costa Rica I suspect tonight's match will finish with a draw. Good World Cup so far...
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