Monday 30 July 2012

12pm update - so far..its still noise

A minor cool down after the nonsense of Thursday and Friday. Yet..so far, its all irrelevant noise. Even a move to 1360 would make for just a normal retracement.

Any doomer bear out there needs to see a weekly close <1325 to get justifiably excited, and right now..that provisional sell-signal level is a long way down.


sp'60min, rainbow



sp'daily5


Summary

Bears should seek a close under the hourly 10MA of 1380, even that won't be easy though, since we'll more than likely level out in the next hour or so.
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No significant down moves to be expected until Tuesday at the very earliest.