Friday, 12 July 2013

11am update - still melting

With consumer sentiment coming in at 83.9, the market is more than pleased to quietly melt higher. Sp'1680s look viable at least 'briefly' today, where ever we close today, really makes no difference. Bulls are in full control, and sp'1700s are a'coming.


sp'60min


Summary

Its turning into a very quiet day..ahead of a sunny and warm weekend.

Absolutely no reason why anyone should be short into next week, with the weekly/monthly charts all cruising higher.

Sure, we are probably going to see a 'minor' pull back next week, but that might only be for a day or two, perhaps mere hours.

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