Quick medium term S&P update..

The chart shows some issues, but we are far from being confirmed in negative view.

 

The overall strategic view should be:  Long RISK as long as S&P holds above 1190/1180 - two day close below 1180.00 could indicate MAJOR TOP in place, but

we got POMO POMO article from Zerohedge.

 

The best advice: Keep the trading tight-and-flexbile - we have had a few warning  signal this week, but whether POMO helps or not, and if or/not the bail-out of Ireland wil be in place for EU Summit on Teuesday the key event risk.

 

The market itself - technical- is pointing to offset risk but not to go short, yet.

 

Nice week-end