Wednesday, 18 December 2013

10am update - chop before the big event

Equities open a touch higher, but really, this is nothing more than minor chop ahead of the afternoons big event. Equity bulls should be seeking a daily close in the 1790/1800s, whilst bears need to hit..and break under the 50 day MA..currently sp'1768..and rising.



So..we're a little higher, but really..what will matter is where we close.

The break/snap levels are very clear..and equity bears should seek a close <1780.

Interesting price action in Ford...

The low 14s are now on the table..which is one small bearish sign for the broader market.

10.37am.. Ford unable to hold the 200 day MA...another $1.50 downside.. 10% now viable in near term.