Friday, 14 March 2014

1pm update - the battle continues

Equity bulls are still unable to clear the (usually) important hourly 10MA around sp'1850 - which itself is still falling each hour. A daily close in the sp'1830s is still very viable, and that would be a pretty decisive bearish weekly close. Metals continue to cool... Gold +$4.



*it remains kinda quiet out there today, and I think many are starting to just walk away as the market is largely seeing minor chop.

However, it STILL remains a case of 'who wants to be long into the weekend?' some selling into the weekend looks very probable.

Equity bulls need a daily close >1863 to stop the bears achieving a sig' weekly bearish warning.

Notable weakness: DRYS, TWTR, TSLA, all lower by around -2%

1.41pm... weak weak weak.... bulls can't hold the 1850s.