Monday 19 August 2013

1pm update - bulls just need the sp'1657s

Mr Market remains a touch weak, but there remains significant threat of upside. Bulls just need to break into the sp'1657s, and that should open up the 1680/85 zone for Wed/Thursday. Metals and Oil remain moderately weak.


sp'15min


Summary

So...3 hours of the trading day to go, and the bulls just need >1657.

Bigger picture remains bearish though.
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Stock of the day...



AAPL should start to get stuck in the 520s.
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UPDATE 1.30pm.. you can see the weakness in the weekly charts...



A red candle is not to be taken lightly !

Despite the weakness, I'm still guessing we bounce..first.


1.38pm.. R2K testing the 50day MA @ 1019. ..and sp' losing 1650s.

Kinda interesting, but still..small moves..on a quiet day.