11am update - failed break?

The main indexes are still slightly higher, and this could be merely be a back test of old resistance, but still..any break <1691..and the low 1680s will again be viable. Hourly momentum remains primed to break conclusively higher. For the day traders out there, this is kinda interesting!


sp'60min

Summary

A pretty clear failure this hour, no doubt those chasing the higher open, with 1700 long-stops all just got the kick.
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Considering the bigger picture though, I'm guessing its merely a back test of the 5 day resistance/down trend.

We'll know soon enough.  Worse case for the bulls, another failure..with renewed weakness to the low 1680s.
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11.31am.. Mr Market confusing both sides. Now offering a spike-floor in the 1693s...

15min cycle...

Baring a break <1691...the bears are still being teased.