Tuesday 29 October 2013

3pm update - equity bulls looking for the 15700s

The main indexes are generally holding moderate gains, with the sp' trying to hold onto the 1770s. Even the laggy Dow is making a play for the important 15700s, with some further weeks of upside very viable. Metals and Oil both moderately lower, with VIX holding micro gains of around 1%


Dow' weekly



Summary

We having fun yet?

The sp'1770s..and  likely broad upside into late spring 2014. Does this look like a good shorting opportunity?
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Fair risk of an FOMC reversal day tomorrow, but still...the sp'1730s would likely hold..at least on the first minor wave lower.
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Interesting price recoveries in NFLX, TSLA.


UAL breaking out..(not sure why).


Lower oil prices..certainly going to help.