Friday 13 December 2013

2pm update - secure floor, new up wave

The US market is battling hard into the weekend, with the main indexes now moderately higher. The two leaders - Trans/R2K, are indeed leading, both up around 0.6%. Metals are holding minor gains, Gold +$7. VIX looks set to close the week, in the upper 14s.


sp'60min


sp'daily5


Summary

Equity bears sure had a lot of opportunities to exit into the weekend in the low 1770s. No doubt, those holding short across the weekend, will be whining when we're in the sp'1800s.
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Best case bullish upside next week, looks to be around 1820/25, which is a level I realise a fair few people - from different financial orientations, are all looking for.

Two hours to go..lets see what the bull maniacs can manage.

RIght now..sp' is -1.5% on the week.
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2.28pm... another minor wave lower..and we're again testing the 1772 floor.

Bears getting yet another  chance to exit in the low 1770s, ahead of the weekend!