Wednesday, 29 August 2012

10am update - another quiet day

Good morning. With still two more days until the Bernanke appears at the hole, it looks we have another dead day ahead of us. Urghh


sp'60min




sp'daily5



Summary

Downside remains 1380', that would make for a post-Bernanke 'disappointment' reaction, but I sure can't see 1380' breaking this cycle. Just look at how low the MACD (blue bar histogram) cycle is already.

Regardless of what happens Friday, it doesn't seem like anything going to happen today.

*Metals a touch weak, they sure don't indicate QE in September.
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