Tuesday, 18 September 2012

2pm update - slow motion rollover

A top is clearly in place for the main indexes for this cycle, and we're rolling over. Most interesting is seeing the transports literally collapsing, whilst the other indexes remain largely flat.

Transports, daily

*special highlight on the trans', via the rainbow monthly chart.

Trans, monthly, rainbow...

We've gone from red..to green..and now back to a blue candle for the month.

The doomer bears need to see the transports close September, RED, under the 5000 key psy' level.



Seeking the 1450 soft support to break, and then 1440/30 by late Thursday.

Right now, I remain doubtful we can break below 1420s.

back at 3pm !