technicals, page-29

The rise in the VIX last night and strength in T Bonds is a continuing worry for the market. The bond market is attracting the interest and money, rather than the equities. The major US indicies again were weak, but still above my "sell zones" triggers to add more puts.

The Oz market futures are down 34, suggesting opening weakness here, and more pressure for LNC.

LNC is at a crucial point.

*It is half a cent below the previous low last month, at what was resistance back in December and support on the 8th May,

*at a 138.2 fib retrace from the 4th Feb low to the 12th March rise to $3.05 ,

*just above the gap at 1.295 on the 7th Jan.

The odds look against it holding here looking at the futures. The nearest target on the downside is at 1.17 being 2 different fibonacci points. Today should be interesting. Should LNC hold, it will remain within the sideways consolidation.