update, page-7

mmmmmm .......... I mentioned a bit more patience before jumping back in via my optimistic post today and that looks more than the case after todays action. Sellers are still about and strongly in force !!! zinc looks sick and headed for lower target 2000 even though very over sold right now - I'd normaly expect a short term bounce around here on the technicals but it doesn't seem to want to give it just yet and regardless, it wont turn bullish until 3000 is strongly exceeded again so anyones guess until then. S&P500 futures at the moment very volatile and I'm a bit surprised last nights strong close hasn't stuck. there is definately some supply testing going on here but at the moment the tests at higher prices are failing . Good signals mixed with bad after today and with asia hammered, the sidelines is still the best place to be until we get some definate confirmations here - I still maintain we are close but if the S&P breaks those August lows, dive for cover !!!!!!! no more butt twitching from this little black duck until the storm clouds completely disperse - I'll stay out of this debate now until things look more definate and today proved we are not there quite yet.

ECN