1pm update - up up...up ?

The broad upward trend from the sp'1560 low continues. Hourly charts are again offering a rollover, but usually we will see a 'latter day melt', and besides, its a holiday week. A close in the 1620/15 zone is the best the bears can hope for today.


sp'60min

sp'daily5

Summary

A truly lousy start to the week, with daily charts offering upside of 'some days', if not weeks.

Indeed, if 1560 was a key low, then bears should simply write off July. Ohh, QE will continue in August..and beyond..so.. how exactly is this nonsense going to fall ?

Waste of time...waste of effort.