Thursday 7 November 2013

1pm update - afternoon weakness

The main indexes look weak, and with no sig' QE today, the bears actually have a window of opportunity into early Friday. Equity bears need to take out the recent low of sp'1753, that is certainly possible in the remaining 3 hrs. Metals and Oil are weak, with added downside pressure via a strong USD.


sp'60min


Summary

Well, 3hrs to go, lets see if the bears can actually muster a strong daily reversal candle from 1774 to the low 1750s.
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meanwhile..TSLA holders...remain on track for 110/100.


The issue will be.. can it hold the 200 day MA. Considering the main market..into spring 2014..I'd say yes.