Monday 2 December 2013

Closing Brief

The main indexes saw another weak closing hour, with the sp -5pts @ 1800. The two leaders - Trans/R2K, settled +0.3% and -1.2% respectively. The broader term trend remains strongly to the upside, and the monthly charts are now offering dow 16500, with sp'1840s.


sp'60min


Summary

Another weak closing hour for the market, but hey..the declines are very moderate, and absolutely nothing for the equity bears to be getting overly excited about.

The recent low of sp'1777 is still a fair ways lower, and that looks difficult to break below, with heavy QE this week.

If we're in sub'4..then chop for rest of the week, with any sell side volume negated via QE ?  Probably.
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the usual bits and pieces across the evening.