12pm update - the closing Santa hour

Market seems content to flat line, with moderate declines, and we're steady around sp'1425/26. Most notable change so far today, Mr $, which is now slightly higher after earlier declines of 0.2%. The VIX is holding onto small gains of 3%


sp'daily5

sp'weekly

Summary

So..not much going on, but..there is certainly a continuation of the trend.

The weekly cycle charts are on the edge. Unless we break back under sp'1400 'soon', the weekly charts will see momentum flip to bullish.

This would break what some - myself included, were seeing as the pattern from July/August 2011, where despite a ramp, there never was a decisive buy signal on the weekly charts.

How we close this week will probably offer a clear indication of whether we'll see a January wash-out to the low sp'1200s.
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back after the close