Thursday, 7 June 2012

12pm update - don't get lost amongst the noise

Whilst the market trundles around in the sp'1310/20s, I can again see people getting all overly focused on the intra-day noise...seemingly oblivious to the bigger picture...

sp'monthly, count'2



I guess we could slip and hold around the low 1310s until the Friday close, by that time the 60min cycle should be ready for a further up move to the 1330/40s. Right now, it looks like 1350/60 is not viable until around late next Wednesday at the earliest.

Sp'1267 to 1350 will make for one swift and strong wave'2.

Wave'3...if that's what we are going to get..will be highly entertaining.

Stay tuned.