Wednesday, 31 July 2013

3pm update - a close in the sp'1700s

The bulls look set for a close in the sp'1700s, after almost two weeks of waiting. The bears remain powerless, and with the Fed decided to do nothing, the market looks set for the 1710/20s. Metals remain generally weak, whilst Oil is soaring...+2.0%



It remains a nasty market for the expected.

I am VERY content to sit on the sidelines, and wait for an index re-short in the sp'1715/25 area..which seems viable later this Friday.