Monday 16 April 2012

2pm Update - late day ramp?

After a double stop sweep in the opening hour...now it looks like the maniacs will let this market break higher after all.

SP'60min



Key issues
Bulls will need to see a close above the 10MA, and preferably above 1380.

Bears just need to see yet another lower high put in...so..next wave, no higher than 1388 Tue/Wed, although even if we break into the 1390s...if its an ABC/wave'2 up...then it is still a valid bearish count.
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AAPL remains a real battleground too...certainly makes for some free entertainment.

More after the close!