Friday, 5 July 2013

1pm update - still...on the edge

Market has powered back higher, and is hovering around the 50 day MA on most indexes. All that's left for the bulls, is to close >1625. Anything in the 1630s will conclusively turn around the weekly charts.



What else to say, other than 'on the edge'.

*Something to think about for next week, the Bernanke will be addressing the House/Senate next Wed/Thursday. The last two occasions King Printer has opened his mouth, have both been key (short term) cycle tops.