Monday, 30 April 2012

1pm update - which way?

Which way will this week close? As detailed across the weekend, both the weekly and monthly cycles are back to their post October low bullish trend. Or could this be a classic bear trap? The problem the bears face is they need big falls..and strong follow through, and that is something that is so often not the case - as we saw last week.

Today the market is actually reflecting the weak econ-data, but..what about Tuesday? We could easily cycle back upward, and even put in a new high of 1406>. Tricky market...good short-stops..remain vital.


*really would prefer a close <1395, a level which has caused some real problems in the past. That would open up a break into the low 1380s Tue/Wed.

SP'monthly cycle - closing red for April ?

We have just 3 trading hours left of April. From the monthly cycle point of view..they are a VERY important 3 hours.

As they say...stay tuned!