We started ok but have now had a couple of attempt at wiping those gains
The S&P is flirting with going negative as I type. After the open the gains evaporated but we held onto a flat level. Now things are looking a bit edgy
Bulls will want to see signs of a confident market otherwise they'll be quick to turn tail again. China is no longer a real excuse otherwise we'd have opened lower initially
I get the feeling things are finely balanced right now but a decision on which way we make the next big move isn't too far away
As well as technically, Friday's low marks a psychological point now going forward. Stay above and the buyers could get a toe hold and start to exert some pressure
S&P H1 chart
1940 marks the point that buyers will want to get above and it's pretty clear that we have steps every 20 pips above there to 2020
