Closing Brief

The main indexes saw some significant weakness after moderate opening gains. Yet, as is often the case, there was a late afternoon rally, and the bulls managed to hold the key low of sp'1622. First upside for tomorrow looks to be somewhere in the sp'1650/55 area.


sp'60min

Summary

Well, I expected a pull back after this mornings opening gains, but not quite that close to what is an important low @ 1622.

It does look like we now have a classic example - just like two weeks ago as well, of a 'marginally higher low'.

Bulls should now be seeking to break outside of the triangle/declining resistance - currently @ 1645. Any break >1645 will open up a further burst higher to 1655 or so.
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*I hold heavy long overnight, will seek an exit early tomorrow, not least if the market gaps right into the 1650s.
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bits and pieces across the evening.