Monday 11 February 2013

Closing Brief

A very quiet Monday, where the indexes appear to merely be consolidating sideways before the next round of slow motion algo-bot melt. Dollar closed a touch higher..with VIX..a touch lower.


dow'60min



sp'60min



trans


Summary

The hourly cycles are generally just in a holding pattern.

What is clear, bears need a daily close under the recent 1494 intra-day low, to have any hope of the 1470/60s.

Without question, bears remain powerless....all else being equal..this market will just resume the melt higher..later in the week.

Tiresome eh?
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more later..on the VIX.