Monday 23 September 2013

12pm update - a teasing Monday for the bears

Mr Market has broken the sp'1700 level, but equity bears should be desperate for a daily close under it. Even then, the 1690s will do nothing to negate the bigger upward trend. It remains the same old nonsense in market land, can the bulls get a latter day QE fuelled ramp?


sp'60min


sp'weekly8


Summary

Without getting lost in the minor noise of the smaller hourly cycles, we're unquestionably very low on the MACD cycle, and there is little reason why we won't see some degree of rally in the late afternoon.

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