*with the market clawing into the Wednesday close, the monthly cycles negated the bearish cross from earlier today.
Suffice to say, the equity bears have been teased a fair few times since the autumn.
As ever.. its not so much the intra-month action.. but how we close the month.
Considering the ECB are set to announce QE - t-bond buying next Thursday, I would not expect the monthly cycle to remain negative (MARCON 6) at the close of January.
Holding at MARCON 7