sp'weekly
sp'60min
Summary
Without getting lost in the minor noise, the weekly charts are now offering the mid 2030s. By end month, we're now looking at the 2040s.
Whether the market gets stuck around 2050..or can just keep grinding to the 2100s - into Christmas.. difficult to say.
What is clear though.. this is no market for the bears.... trend remains strongly higher.
-
Notable weakness: oil/gas drillers, SDRL -1.9% in the $29s... next support is around $26.
10.20am.. Fascinating to watch the Alibaba IPO...
Certainly, it is a stock I will be closely following in the days..and months to come.
Metals continue to slide, Gold -$5.... with Silver well under the 2013 low. Miners suffering, GDX -0.8%.... a long way down yet to go though.
10.34am.. minor down cycle underway....
sp'2008/06 viable within an hour or so.... would be a valid entry level for those seeking to trade into the 2030s.