Seeking a break under sp'1425

So far this week, the sp is -19pts (1.3%) @ 1441, that's not a bad start so far this week, but the bears are facing powerfully strong support around the 1420/30 zone. Doomer bears should be seeking a weekly close <1420, that should clarify that the QE spike high of sp'1474 was at least an 'intermediate' top of some sort.


sp' weekly, 2yr

sp'daily3 - news to come

Summary

Not a bad day, and the closing hour was good for the bears. Now the issue is what about tomorrow?

Tomorrow's action will be interesting. Will the bull maniacs manage to reverse the trend, or will we start seeing the market selling into each micro-rally?

I'm guessing the latter, but then...what else would I say?

Goodnight from London