Monday, 2 July 2012

2pm update - wake me up at the close

An almost painfully slow Monday afternoon.

sp' daily (8mth)

*I've added a blue count on the Sp' chart, it would become officially invalid if a new high of >1422 is hit. Right now, I still find that hard to believe as viable.


The daily 10MA is trying to cross back above the 50day MA It might manage to hold over for a few days until Friday.

Key issue. If the market falls back below 1300 within the next week or so, there is the very real likelihood of the infamous 'death cross' occurring - where the 50MA crosses below the big 200MA.

Naturally, the cheer leaders on clown network TV won't be mentioning this until the latter half of July, but as ever, I'm trying to keep ahead of them..although thats really not difficult most of the time.
Good reading over on Market Ticker today.
Get some tea/coffee...for the latest Schiff interview...