The uptrend remains under pressure closing on the pivot for this week. Stock reports show BHP, RIO and TLS in breakout up trends and the banks, WOW, WPL and WES in downtrends. Gains in the index continue to be hard earned. AUDUSD is testing the longer term monthly downtrend following support at 0.886. International markets focus on SP500 at 1690 and a break of this level will signal falls. The short term daily report is in a downtrend and we expect selling to continue. The flat trend and limited upside indicates a neutral position and we wait for the long established supports to fail.

Bulls continue to hold gains and supports are now being tested.