11am update - holding the 50 day MA

Despite moderate declines (and they certainly are NOT significant!), the market is likely just teasing the bears. If a moderately higher low can be put in today, the turn to the upside is still on course. Equity bulls should seek a daily close in the 1700s before this week concludes.


sp'60min

Summary

I'm still guessing this is just a tease to the bears.

The price action does not have any downside power to it, certainly..the mood is far less bearish than the Monday open.
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Anyone not already long is getting the opportunity to jump aboard, with a simple stop in the 1680/70 zone.


11.20am.. a daily close in the 1700s would no doubt confuse many..and disgust the bears. Oh well, its not like the price action isn't offering any clues.