thursday trading, page-16

Gse, do you really think people think the US will fall off a cliff?
Seems like people are wagering on the fact that the 12800 level will hold, and won't break down.
Having a look at the weekly charts, looks good for a short setup soonish.
Had a read of Mclarens report and he suggests that the 1400 mark will cause trouble etc, and that the market is more likely to fall down from here to about 1320 (I can't exactly remember what he wrote)

Also chartsedge is forcasting more significant falls this week as well (However they thought we'd get to 1450 last week, so who knows)

Me personally?
I think the XJO will test 5400 again soon. And it will probably hold.