Monday, 10 June 2013

3pm update - mixed up Monday

The hourly index charts are warning of downside into late Tuesday morning, with a prime gap-fill target of sp'1625/22. Daily index charts are still swaying in favour of the bulls though, and a weekly close in the 1660s still looks very feasible.


sp'60min






Trans'daily



Summary

It remains largely minor chop, with a slight pressure to the upside. Considering we were at 1598 just over two trading days ago, the bulls are holding the gains very well.

Transports..market leader is holding together.
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*I remain largely on the sidelines.

Seeking to re-long @ 1625 tomorrow -if available, although if the mood out there is overly shaky, I'll sit it out.