Tuesday 12 November 2013

2pm update - its raining

The market is indeed seeing another down wave play out...probably into late Wed/early Thursday. The sp'1735/30 zone remains prime downside target. Metals are exceptionally weak, Gold -$10, with Silver -55 cents. Oil is now sharply lower... -1.6%.


sp'60min


Summary

Today is indeed turning out pretty good..arguably for both sides.

Bears getting a little wave lower..and the bulls are going to get some good buying levels within the next few days.
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For the bears...


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The bigger weekly charts similarly offering the 1730s..where there is key 10MA support.

sp'weekly8


There is arguably a case for a fractal-analogy, and that would place us in mid-February.

Stay tuned!