Closing Brief

Another day for the bears to forget, with the main indexes climbing almost 1%. The two market leaders - Trans & R2K, closed strongly @ 6358 and 999 respectively. Underlying momentum continues to swing back to the bulls, sp'1670s look very likely within a day or two.


sp'60min'3 - inv. H/S

Summary

The key 'marginally higher low' of Sp'1608 is now looking a fair way down, and sure doesn't look like it'll be breached any time soon.

Indeed, if my broader outlook is correct, 1608 might not be tested for another 3 months. An even bigger picture outlook is suggestive that we might not see sub 1600s for another 4-5 years.

Yes...years.

As ever..it is...what it is. 
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*I remain on the sidelines, and sitting it out until after the Fed nonsense is out of the way.
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