10am update - bears need to push

The bulls are still battling to clear multiple resistance in the mid sp'1620s, especially the 50 day MA @ 1624. The next few days is the prime opportunity for the bears to push the market back down. A weekly close <1600 would be the first soft target, but that seems unlikely today.


sp'daily5

sp'weekly7

Summary

*I will keep referencing the weekly'7 outlook, its what I will hold to, unless we break >1630s.
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Again, currency issues, and bond yields are back on the watch-list.

The euro break <1.30 is kinda interesting, but still, trading volume won't likely be much today, and even less tomorrow.


10.33am.. this is getting VERY annoying. We're damn close to the 50 day MA, and if the bulls break over that -as they did  yesterday, it'll be a very borderline situation.

Bears MUST push this nonsense lower, with a red close.

Otherwise, next level is 1650/60s. within 3-5 days.