Closing Brief

The main indexes were looking very strong for much of the day, until an FT news posting was interpreted by Mr Market as 'imminent Fed tapering'. Yet..the market still closed rather strongly into the close. With daily charts increasingly bullish, bulls are generally building strength.


sp'60min

Summary

That was..err..kinda fun.

Certainly, the bulls got spooked, and the bears saw a bit of downside, but really, one hourly downside candle, is nothing to get too excited over.

So long as the 1608 low holds, bulls have nothing to be concerned about.
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*I am entirely on the sidelines, having dropped IWM, MRO (longs)..and SLV (short).

Will consider another index long, early Tuesday, sp'1625/20 would be a nice level to get back in.