12pm update - rolling over..slowly

A very muted day so far. Considering the issue that we're now post QE3 announcement, at least some level of retracement lower seems very likely.

First target is sp'1430.


sp'60min

sp'daily5

Transports

Summary

The tranny may again be the leading warning of downside later this week.

All the daily cycles are close to confirming the first phase of levelling out, and a 3-5 day down cycle seems very likely.

I remain short, looking to exit at 1430.
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back at 3pm