Tuesday 9 September 2014

3pm update - continued weak chop

It has been another day of minor weak chop, and the morning low of sp'1991 is now in imminent danger of being broken. Metals are weak, Gold -$5, whilst oil is -0.3%.


sp'60min


Summary

We remain stuck in the 2011/1991 range... a mere 1% wide.

At best, bears could see the 1980/70s.... whilst the broader target of 2030/50 remains easily viable in the near term.
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*I will hold moderately long overnight, seeking the sp'2010/15 zone.

3.17pm  So much for the 1990 floor.....  now 1987... and no real support until weekly 10MA of 1970.

Even AAPL is fractionally lower. The humanity!

Great.. just,....great.