11am update - minor down wave due

Having climbed from sp'1820 to 1947 across six trading days, the market is looking a little tired. A minor retrace, back to 1910/05 looks viable, before another push to 1950/60s next week. Metals and Oil are both moderately weak, -0.5%


sp'60min

Summary

re: down cycle. Its just a 'moderate possibility'. On any basis, the hourly cycles are over stretched.. and its a rather obvious gap to fill.
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Notable strength: CHK +3.7%
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time for an early lunch
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11.21am.. its getting tiresome... sp'1948...a mere 1.1% away from 1970.. which for me, is where the bigger bearish outlook should get dropped.

Notable weakness, Silver -2.2%.. who needs silver in the new world econmy, eh?