Thursday, 30 August 2012

3pm update - baby bear flag?

Declines continue to largely hold, a baby bear flag is currently apparent on the hourly cycle



Its not bad little flag, so long as we don't climb back about the hourly 10MA of 1404/05, it can be said to be a bearish formation for the closing hour and into early tomorrow.

1380 sure looks 'best case' tomorrow, I just can't see anything below that in the near term.

The transports might get a very important weekly, and monthly close <5000 tomorrow.

More after the close