Thursday, 12 September 2013

11am update - a day of upside melt

The main market is again more than able to rebound from any opening minor downside. With the weekly charts pushing higher (lead by Nasdaq), there is little reason why the market won't melt higher into next week. For the bulls, a weekly close of sp'1700 is now a valid target.


R2K, daily


*I am long the R2K from 1054, seeking the 1070s by next Mon/Tuesday.

With no downside power, VIX is already marginally red.