Thursday 1 August 2013

11am update - holding 1700s into the close?

The issue now for the bulls is whether they can hold sp'1700s into the close. Regardless, this mornings gains are pretty significant, and we are surely in the strongest part of the final sub'5 wave. Target remains a peak somewhere in the 1715/25 area..tomorrow, or early next week.


sp'daily5


Summary

Underlying MACD (blue bar histogram) is turning upward again, and we're set to put in a smaller tower/block across the next few days.

I'm in no hurry to short, but as noted, if market does a spike into the 1715/25 zone tomorrow, I'm hitting buttons.
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Certainly, the rest of today is just about seeing what those bulls maniacs can manage.