Monday, 18 August 2014

11am update - Nasdaq leading the way higher

Equity bears should have already come to realise that sp'1904 was a key low. Price structure was rather clear at the time, and this mornings move into the 1970s is just another  step forward. Metals are weak, Gold -$5. Oil is significantly lower, -1.3%


Nasdaq Comp', daily


*most notable today... Nasdaq Comp', new post 2009 highs.

R2K is following.. gains of 1.2%

However you might wish to count this nonsense, the trend in the short..mid, and long term remains to the upside.

I certainly continue to think we might see a key top in the 2030/50 zone..but that is likely another month away.

Clearly, this is no market for the bears....

*I am not in the mood to chase this higher.. and am content on the sidelines.