Market Analysis for Jul 8th, 2004

The E-SPU remains on the defensive despite the rally attempt from 1110.75 to 1119.25... The next hour or so will provide us with the added information we need to determine if there is another actionable trade from the short side. Ideally, another climb towards the 1119.00 area followed by a downside pivot would confirm for us that the index is going considerably lower- and a signal that we want to be positioned short again... Lets see what happens for the next hour... Have a look at our updated hourly chart analytics of the E-SPU...

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