Friday, 25 October 2013

12pm update - did we close yet?

Market is holding the low sp'1750s, and the bears are embarrassingly finding it tough just to break moderately lower. Metals are flat, Oil is a touch higher..and baring the indexes breaking <1750, VIX will melt lower into the late afternoon.




There is little to add, on what is becoming a very quiet day.

Bears have no downside power, and right now, the 1730s look very difficult to hit. Price formation on the daily chart is a simple F' flag, very bullish, offering the 1770/80s next week.

time for lunch