Friday 9 November 2012

12pm update - market vainly trying to rally

Mr Market is trying to rally..so very hard. The damage from yesterday though, can't be repaired with a 1% gain. No...primary target remains on track...within days..1345/40.


sp'15min



sp'daily5f


Summary

A reminder - see daily5f, that yesterday we saw all 3 triggers hit.

Weekly charts are very conclusive..this major move lower is not complete.
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Seeking a re-short around 2-3pm..anywhere in the 1390/95 range looks very tasty zone. That would offer a good 50pts downside across Mon/Tuesday.

Time for lunch !

back soon

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UPDATE 12.24pm

Market breaks the hourly 10MA...we're starting to get a little overstretched though.

Its gonna be real tough to hold over 1395.

I am resolutely trying to be patient....until 2pm.. - after which time, his highness (obama), will have spoken

sp'60min