Wednesday, 7 August 2013

3pm update - interesting closing hour

The market is holding moderate declines, but certainly nothing for the bears to get overly excited about. There is underlying slight upward pressure into the close, bulls should aim for a close above the hourly 10MA of sp'1692.



Best guess, slight upside into the close, with follow through early tomorrow.

It will be difficult for the bulls to sustain any price action >1700 though.

*earnings at the close: TSLA...a stock surrounded in almost as much hysteria as FB.

3.05pm.. sp'1692...bulls about to clear the hourly 10MA...and spiking it into the close.

Prepare for the whining and complaints on Zerohedge. ;)