1pm update - still holding under the weekly 10MA

A small wave lower - due to comments from Merkel on the Greek (continuing) bailout. Yet, we're a mere 4/5pts from a daily close above the important 50 day MA. Even more important though, the weekly 10MA of 1628, so far..still holding the line.


sp'weekly7

Summary

It remains a market swayed by minor news story..after story.

What should be apparent though, we sure don't have any red indexes yet.


1.40pm...indexes going red. Bears should seek a close <1610, below the morning low of 1613.

At least there is some kind of price action today!