Wednesday, 2 October 2013

11am update - holding the 50 day MA

Despite moderate declines (and they certainly are NOT significant!), the market is likely just teasing the bears. If a moderately higher low can be put in today, the turn to the upside is still on course. Equity bulls should seek a daily close in the 1700s before this week concludes.



I'm still guessing this is just a tease to the bears.

The price action does not have any downside power to it, certainly..the mood is far less bearish than the Monday open.

Anyone not already long is getting the opportunity to jump aboard, with a simple stop in the 1680/70 zone.

11.20am.. a daily close in the 1700s would no doubt confuse many..and disgust the bears. Oh well, its not like the price action isn't offering any clues.