Friday 3 May 2013

11am update - breakouts EVERYWHERE

The market has decisively broken to the upside. Whether daily, weekly, or monthly cycle, we have breakouts on all indexes into new territory. All bearish outlooks should now be dismissed. Any 'big/serious' bear money will have been short-stopped out by now.


Trans'daily



Dow'daily


Summary

It is..what it is.

Market has broken to the upside, and its a VERY decisive break.
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*I have abandoned remaining short positions. There is simply no justification for being short >1597


Upside for summer 2013?

A simple extrapolation would be Trans' 7250/500, which would equate to Dow 17000, with SP'1800s. That seems viable as early as July/August. If that is the case, you'd have to assume Oil >$100, perhaps in the 120/130.