We are now in the final few days of 2011 and given the holidays its unlikely we will see too much action however be aware that large moves can still develop on low volume although any moves are generally steady and creep lower or higher.
My analysis remains the same and we are still calling for a slow move up towards 5600. Once we get to 5600 I will be looking at opening short positions. I don't expect fireworks at the beginning of 2012 and with uncertainty still high we could well see the market trade between 5200-5650 for the first 3 months.
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