Wednesday 15 August 2012

Daily Index Cycle update

Another day trading within the same 20pt zone that we've seen for some 7 days now.


sp'daily5


Summary

A fractional lower close on the sp'500. Yet again though, the bulls can claim a higher high..and even a higher low compared to yesterdays action. Primary trend in price remains UP.
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What is clear, the bears need a close under 1390 for even the first initial indication of some kind of cycle top.

Even more important, only with a close <1350, can the bears start to get a little confident of a bearish autumn ahead.