2pm update - chop into Tuesday

Its turning rather muted in the worlds greatest and most rigged casino. There is really nothing to motivate the market until Tuesday breakfast..when we have the Bernanke for Breakfast, along with Durable Goods Orders.


sp'60min

sp'daily5

Summary

Ignoring the intra-day nonsense for this hour, the daily charts are still broadly heading higher. There is no underlying turn lower, and in fact, we don't even have the first sign of a levelling out phase.

The good patient bears should probably still be waiting amongst the trees.

There is simply no real power to the downside. A dow 100pt fall is nothing to get excited over, its not even 1% ! The fact AAPL is +$16 sure doesn't look good for those currently short.

back at 3pm