Monday, 26 August 2013

1pm update - did we close yet?

Market remains very quiet, but as ever..that just means the algo-bots are more able to melt it higher. A close in the low sp'1670s remains very viable. Metals/Oil remain a touch weak, but really, it is a quiet day.



Despite the indexes higher again..we're still holding a blue candle on the 'rainbow' (Elder impulse) charts.

Baring a weekly close >1690, bears should be reasonably okay.

Best case, we hit 1680/85..but have a Friday close <1660.

*ohh, and yes, the lower weekly bol is now 1564....somewhat lower than I thought it would be to start the week.