Thursday 22 May 2014

11am update - equity bears getting ground down

US equities have seen a fair bit of chop, but the underlying upside is still there. Daily/weekly MACD cycles bode for continued moderate upside into the 3 day weekend. VIX is in melt mode, -2% in the 11.60s. Metals are holding minor gains, Gold +$6


sp'daily5


Summary

Well, at least I ain't short.

Market has slipped into algo-bot mode, and bears are merely getting ground down to dust. urghhh.
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Holding to original outlook...upside into the next FOMC of June'18....sp'1920s..or a little higher.