10am update - more of the same

Another day where the market opens moderately lower, but with the bears still powerless, there is no follow through. However, bulls will continue to find it tough to break the sp'1700 wall. Market looks set to remain stuck between 1700/1680 into the Friday close.


sp'60min

sp'daily5

Summary

*one thing the bears should be particularly concerned about are the daily index charts. From a MACD cycle perspective, we're just starting to turn upward again..and that's from the sp'1690s..

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It is a very marginal situation..and I'm not going to get involved until after the Friday QE is out of the way.

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Interesting ones to watch remain CREE and AAPL.