US indexes managed to hold moderate gains into the close, sp +6pts @ 1851. However, the morning break of the 50 day MA was significant, and the current bounce is indeed most likely that, just a bounce. Best case downside for the equity bears remains the sp'1780/60 zone.
sp'daily5
Summary
Suffice to say, the break below the 50 day MA of 1839 was very significant, and bodes for lower levels later this week.
A continued minor bounce into the sp'1865/75 zone seems viable tomorrow, before another reversal.
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a little more later.
