2pm update - afternoon skirmish

Mr Market is just doing its usual thing. Sucking in the dumbest of bears, and kicking out the weakest of bulls. Primary target remains the 1410/25 zone, to be reached early next week.


sp'60min

sp'daily5

Summary

Not much to add, daily MACD (blue bar histogram) cycle is due to go positive, at the Wednesday open - even if we close a little red today.

With Bernanke out of the way, there really isn't anything too major until next week. The weekly jobs data will be issued tomorrow morning, with a few other things. There really shouldn't be too much opportunity of downside, baring a random news headline.

Bears should be staying out of these minor skirmishes until next week.

back at 3pm