Friday, 11 January 2013

3pm update - the end to a difficult week

The closing hour of what has probably been a difficult week for many, not least on the bearish side. Minor declines on Mon/Tuesday, but then slow melt from sp'1451 to the low 1470s. Can the bulls break the mid-Sept' high of 1474 to close the week? I'm guessing no, but it won't take much for the bots to spike it higher..and do a short-stop run.




Its almost time to lock the doors for the trading week...thank the gods.

From a technical perspective, a close >1474 would be significant..I hope it doesn't close like that.

*metals remain weak, although on the bigger weekly charts, the down cycle looks complete.

Something I just noticed... FCX, death cross..due.

Its had a good bounce since the take over of two Oil/Gas companies, but its approaching very significant double resistance with the 50..and 200 day MA..also about to cross.

back after the close