Friday 22 August 2014

Closing Brief

US indexes ended the week on a subdued note, sp -3pts @ 1988. The two leaders - Trans/R2K, both settled u/c.  Near term outlook remains bullish, with the sp'2000s still likely, with broader upside to 2030/50 by late September.


sp'60min


Summary

So... a third consecutive net weekly gain for the sp'500.

It is highly notable that the upper weekly bollinger will be in the 2030s next week (its climbing around 10pts a week).. it won't be too hard for the bull maniacs to push the market into the 2010/20s by early September.

For me, the only issue is whether we can hit 2030/50 zone before October.

I realise for many out there... it remains a tough market to remain level headed about...

*I remain on the sidelines...for me..that is probably the better policy right now.

Have a good weekend everyone
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more later.. on the VIX