Monday 11 November 2013

10am update - sleepy open

The market is very quiet on a day when most things are closed for veterans day. Metals are weak, Gold -$4, with Oil a touch higher. Equity bulls merely need to hold the sp'1700s in the weeks ahead..which will easily open the door to sp'2000s by late spring 2014.


sp'weekly8



Summary

To start the week, important to keep in the mind the broader weekly charts. Note the upper bol', which has now climbed to 1783.

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I honestly don't expect anything of today...or indeed this week. Sure, there is some individual activity in particular stocks..but generally, a dull week ahead, where the bears will likely get pretty frustrated.
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TWTR loses the $40s to start the week.


I'd have to assume we'll drop to $30..if not the IPO issue price of $26, possibly before year end.