Tuesday 22 October 2013

10am update - welcome to the 1750s

The main indexes continue to push higher, with the sp' breaking into the 1750s. A great many out there are seeking a mid, even long-term cycle top in the 1750/60 zone, but frankly..there is absolutely zero reason why that will be the case. The sp'1800s look very likely next month.


sp'60min



sp'daily5


Summary

More than anything, I realise a lot of good chartists out there are calling a top in the current zone, but really, it makes ZERO sense to me why this freight train of a market will stop here.

How many times are we going to see people call a top whilst the QE continues? 
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Stock of the day... NFLX


The hysteria is back in full...and the $400s look likely. whether later today, tomorrow, or whenever.
The opening black candle is kinda interesting, but really, anyone want to short against the primary up trend? Urghh
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10.22am.. hourly MACD cycle goes positive, and the 1760s now likely in the immediate term.

ZERO reason why this will stop. There is NO power on the bearish side.

QE continues. This market is going...UP !