Monday 16 April 2012

10am Update - choppy open!

A surprisingly strong open..which has fizzled quickly away on the SP and the Nasdaq...with AAPL leading the way lower.


Sp'60min - bearish outlook



Hourly cycle could certainly still fall further - there is no sign of a decisive turn upward yet.

The bulls really need to hold the current level, otherwise the previous low of 1358 will surely be taken out.

Bulls need a close over the 10MA, currently still falling at sp'1376.
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More later