Friday, 12 July 2013

2pm update - minor chop

The market is still relatively quiet, with the only real action still in Boeing, trying to hold above the $100 psy level. Precious metals are weak, Oil is holding gains of around 1%, and the USD is +0.25%, which is weak, considering France was downgraded by Fitch.



Relatively quiet....15min cycle is offering upside into the close.

If the bulls really want to annoy the bears, a weekly close in the 1680s.

I'm seeing a surprisingly large amount of bearish chatter out there, you'd think after a 115pt ramp from the 1560 low, most bears would be on 'radio silence' mode.

I still have to believe we'll broadly battle higher into early August.