Friday 28 February 2014

11am update - how much upside for March?

US indexes are wrapping up the month with breaks to new historic highs in the sp'500, R2K, and the NYSE Comp' - other indexes look set to follow. The primary issue now is how high might the follow through be next month? Best case for the bull maniacs looks to be the low 1900s...before a reversal.


sp'daily3b


Summary

*yes yes, I realise a fair few would disagree with what I've done on the above chart. However crude it might be...it at least offers a clue as to where we might get stuck next month.
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Daily charts are offering the 1880s in the near term...and that will no doubt rise to the low 1900s by mid March.
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*I have found it rather bizarre in the past few days, seeing a fair amount of 'doom' talk. With people trying to capture minor retracements on the short-side, I mean...why bother? Overly risky.
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VIX -2.3% in the 13.70s....reflecting what remains a fearless market.

Nat gas rising...with UGAZ +8.5%.. but still a major net weekly drop of -23%