Monday, 8 October 2012

11am update - did we close yet?

A tiresome start already. Market slips sp'7 pts, and that seemingly looks like the low of the morning. With the hourly cycles floored on all the indexes, there is now potential for 10-15 trading hours up.



There really isn't much to say, until we're back under 1450, and again try to break <1440, the bulls are completely in control.

Considering the state of the hourly cycle, I'd guess there is a only a small chance we'll close <1450 today. There just is NOT any downside momentum/strength.

I suppose some could argue that with Oil and the Metals weak, that is suggestive of 'something', but really, no.

back at 1pm