Stuck between support and resistance

The US market managed a relatively incredible minor gain, on a day when most world markets were significantly lower. No doubt the QE is continuing to prop up the market, and until it ends, equity bears face a relentless uphill battle. Weekly trend is still 'moderately bearish'.


sp'weekly7

Summary

I think the above chart will suffice to end today.

Any move above the 10MA - currently sp'1628, and we'll likely proceed to 1650/60s.

A break <1600, and the market will proceed lower in another wave to the 1530s.
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*I may post a few things tomorrow, not least with the rest of the world markets all trading as normal.

Goodnight from London