Wednesday, 31 July 2013

11am update- bears on the run

As expected, the market is inexorably climbing higher again, and the sp'1700s are a mere 4pts away. The 1710/20s look a very viable target within the next 1-3 trading days. Metals remain very weak, with Gold now -$16.


GLD, daily


There is no reason to believe 1700s aren't viable in the next hour or two. Bulls are in control...and what bears are out there, are simply seeing their short-stops triggered.

So..lets see how high the maniacs can drive it today.

I'll only consider an index short late today..if the market is at least >1710.

*will be interesting to see how rattled the cheer leaders on clown finance TV get, in the next multi-week down cycle.