1pm update - sandy retracement

Whilst the Saharan sand consumes the city of London, the US indexes continue to slip, in what is probably now half of a retracement. Downside target zone by early Friday remains sp'1880/75, from there, a Friday close in the 1890s still looks likely.


sp'60min

Summary

So far then, a swing from 1893 to 1885, and we're sitting on what is soft rising support. I don't expect that to hold.

I could just about stomach going long the indexes (probably via ETF of SSO), somewhere in the 1870s...although I'd prefer to wait until the jobs data is out of the way.

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*As for the sand.....take a look...



I'm not sure what is worse, seeing the market on the edge of the sp'1900s, or breathing in part of the Sahara desert.