Wednesday 6 March 2013

10am update - happy anniversary

The main market is 'somewhat' higher than the 666 low from four years ago. Seriously though, there just isn't any power on the bearish side, and even if there is anything to spook the market in the next few weeks..or months...the market still has its QE-pomo fuel.


sp'daily5



vix'daily3


Summary

Higher highs..and higher lows..its that simple.

Right now, the notion of getting back to down to where we started the year @1400....just seems near impossible.

We'll just have to see how we trade next week, when we might be in the sp'1560s..
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*Oil is lower...metals a touch weak. The higher dollar is not helping.

back later