Thursday, 24 May 2012

11am update - in the phantom zone

The Sp' is in a very important zone. A break over 1330...bullish...a move under 1310...bearish. From a MACD cycle perspective we 'could' rollover later in the day - much like Tuesday.  Where are the crazy rumours when the bears really need one?


In general though, it does look like its slipping away from the bears. The longer we stay over 1320, the more secure the floor. A close over 1330 would be pretty conclusive.