Tuesday 12 February 2013

2pm update - another little up wave

Mr Market slowly...but consistantly battling higher. The sp'1520s... mere 3% or so from the 2007 highs, but then the Trans and R2K already well above those levels. The sp'1600s..even 1700s easily viable by the late spring.


sp'60min


Summary

Very little of anything going on. Hourly cycles might be maxed out, but then...they already made a higher high.

Rising support is @ 1510 by end Wednesday..so bulls have a clear 10pts buffer..never mind the daily cycle which has 50pts buffer.
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*Metals are still kinda weak, I'm watching them for a possible re-short.



I'd prefer a re-short from 30.20/30, that won't be easy, with just 2hrs to go.