Tuesday 15 July 2014

10am update - awaiting the CEO of print central

US indexes are seeing another morning of moderate gains, and its enough to break another set of new highs for the Dow and Trans. Sp' could follow today, with a close in the 1985/90 zone. Oil is notably weak, -1.4%


sp'60min


Summary

*The baby bull flag played out very well.
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Little to add. I don't expect any sig' break lower today..why would we?

So long as Yellen is careful on the issue of interest rates, we'll surely hold the gains, and just keep on pushing.

More than anything, with new historic highs...I can't take ANY bearish talk seriously.

time for Yellen.................


10.16am... and indexes turn red............

don't get lost in the downside hysteria ;)

Its a buying opportunity, lol


First downside target is the gap of 1970... a mere 0.3% lower... not exactly huge.
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10.38am.. R2K is close to last Thursday mornings low.....so long as it holds....no problemo.

...eyes to the R2K


10.42am.. gap fill coming at sp'1970.

VIX +2%.. at 12... not exactly thrilling.


10.44am.. R2K 1153...... the floor is 1151.     Bull maniacs need to start appearing... but then we are at typical floor time of 11am...


10.52am.. I'm calling a morning floor, with the sp' around 1970.. and R2K at 1151.

Certainly, a few bulls will be spooked, but.. price action is NOT bearish, as reflected in the VIX.