Monday 23 December 2013

3pm update - 1830s to spite the bears?

Mr Market is fighting hard to hold the moderate gains, and a daily close in the sp'1830s is still viable. Regardless of the close though, the broader trend remains strongly to the upside. Metals and Oil are a touch weak.


sp'60min


Summary

Little to add...on what is a rather quiet day.
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*notable strength in the shippers - DRYS, DSX, NAT... as expected.

With the BDI set for the 3000s in early 2014..shippers all look set to explode..at least for a few weeks.

DRYS, weekly


A break of $4, will open the door to a fast move to either 5..or 6. 
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3.21pm.. Ford is continuing to weaken...the low 14s look an easy target within 7-10 trading days.


Renewed strength post Jan' earnings...probable.
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3.30pm..could argue for a small bull flag on the 15/60min cycles...certainly pointing to the 1830s by the 1pm close tomorrow.