sp'60min
Summary
*jobless claims : 320k, better than expected
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Well, its going to be a VERY marginal situation at the open. The bears just need a tiny bit of follow through, and the FIVE week support will be broken.
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As ever..the QE remains a problem, and that will be kicking in after 10am.
Further, the hourly MACD cycle is already low, and it will be difficult for the bears to keep pushing lower.
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Regardless, I'm holding off until both today and tomorrow QE are out of the way.
notable movers: CSCO, -8%
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Mr Permabull-Carboni is looking for weakness...
Not sure what to make of his unusual call
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8.44am... sp now set to -14pts, which will be 1671...a VERY clear break of support.
Well, the door will now open to 1660/55, where there is a multiple key support.