Thursday 25 October 2012

3pm update - closing hour battle

With one hour to go, the market is only marginally higher. If the bulls somehow pull a last hour ramp, it would really taint the current 5 day decline. The bears need to hold the line here, and close the main indexes at least flat, preferably a touch red.


sp'60min



sp'daily5


Summary

For those seeking much lower levels - as still suggested by the weekly charts, we could really do with seeing some weakness into the close.

Bears should be seeking at least a marginally lower close, <1406, with VIX 18.50>

*watch AAPL and AMZN at the close...earnings are due.

More after the close