Friday, 29 June 2012

12pm update - where will it stop?

So just keeps going. Pure 100% nastiness for the bears to end the week, month, and second quarter.

Sp'1363 is clearly the next big line for the bulls to break, and as noted earlier, they sure don't need to do it today. Even a close in the low 1340s would still be a significant close for the week..and month.


sp, daily 4mth


Not much to add here. The underlying econ-data continues to worsen..not that it matters in market land, since everything is now perceived as back on track in the EU. The 'growth package' as announced.. how is that going to be funded? Ohh, and never mind that its 140bn..spread across a vast EU.

With next week being a holiday week..maybe its best for most bears to take a week off.