Friday 27 July 2012

11am update - when will it stop?

We're now just 8pts away from breaking the recent 1380 high. It won't take much to kick it over that. Just another baseless rumour/lie from the EU..and the bulls can take back the weekly and monthly cycles..and then we'll all be set for sp'1500.

Great huh? On days like today, I really wish I wasn't part of this.


sp'60min






sp' monthly


You can already see the underlying cycle on the monthly is now almost starting to flip positive, and we're very close to breaking what was a pretty weak downtrend since the April rollover.



Summary

No sign of any turn..or levelling out. If the algo-bots want to melt this nonsense to new highs..then they have it relatively easy now.

A lousy end to the week..and a stark contrast to how we opened Monday.