1pm update - battling it out at sp'1610

We're stuck in the sp'1608/13 zone, the break from this will be important, although we could merely trundle sideways into the close. A weekly close of sp'1610 would be the most unclear situation, and give everyone a great deal to ponder across the weekend.


sp'60min

sp'daily5

Summary

What is clear, we did indeed break the 3/4 day up channel on the indexes this morning, so the bears do have that to tout.

Further, we've certainly not seen a ramp straight to the mid 1620s, and with multiple resistance, the longer we fail to break it, the harder its going to be for the bulls.

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An interesting afternoon ahead. I sure would like to see another minor wave lower, taking out 1600.

1.40pm.. market getting squeezed..its gonna break..one way or the other..

Bigger cycles would suggest..somewhat lower.