Tuesday 29 July 2014

2pm update - is it Wednesday yet?

Mr Market is holding moderate gains, with a likely daily close in the sp'1980s. There remains 'best bear case' downside to the low 1960s early Wednesday - if 'weak GDP', but regardless, overall price action does not favour the bears in the bigger picture.


sp'15min


Summary

I am probably annoying myself more than anyone else could, with such a small cycle chart..

Price structure is a micro bullish pennant... it certainly favours the bulls into the close.

--
It really is a case of...

Do we just gap straight into the 1995/2005 zone..tomorrow....

or.. (arguably more likely)...

a brief foray to the 1965/60 zone... and then battle higher to 1990s.. by late Friday?

Regardless... primary trend STILL remains... up.


2.28pm...minor flag... fail....with a snap....back to 1975...

pretty tiresome overall though...