sp'weekly
sp'weekly2, rainbow
Summary
So, a somewhat weak start to the week..and month. Its certainly nothing for the bears to get excited about yet, but the signs are unquestionably starting to build.
Given another 4-7 trading days, we'll probably have seen by then, the first little wave lower..to around sp'1530.
--
Special note...
Look at the lower bollinger on the weekly charts, its now rising - to be expected, and that arguably represents the 'best bear downside' viable in the weeks ahead.
Indeed, by mid May, the lower bol' will have risen, and be somewhere around 1450/70.
It is indeed now a race. The faster we fall, the lower we can go. If this down cycle drags out sideways for another week or two, we'll be lucky just to hit the primary target - which is only the sp'1470s.
Frankly, anyone seeking a break <sp'1400 any time soon...sorry, I just can't see any hope of that this side of summer 2013.
-
I am seeking to launch a re-short of the indexes this Wednesday in the sp'1575/80 zone.
Goodnight from London