Wednesday, 17 September 2014

3pm update - battling into the close

US equities remain moderately higher - if somewhat choppy. The spike floor of sp'1993 looks unlikely to be broken in the near term... with the hourly/daily charts both offering 2010/12 in the immediate term. VIX is confirming a somewhat 'placated' market.



So...we're higher.. and with the Dow breaking a new historic high, I think no one can justifiably get bearish in the near term.

We look headed for the sp'2030/50 zone... perhaps 2060/70 in October. DIfficult to be more precise at present.. but regardless...

We ain't headed lower.. are we?

3.01pm... another nano cycle upward... a daily close around 2010.. very viable.

I've only just noticed, not only has the Dow broke a new historic has the Transports.

3.10pm... sp'2010.... Dow 17200s....quite..a.... sight!

3.14pm  VIX -7% in the 11s... utterly reflecting a market that is afraid of nothing. After all, everything is protected by the Fed, yes?

Notable weakness, coal miners, BTU -1.6%... but then, that sector has been crushed since spring 2011.

3.23pm... 5/15min cycles rolling over... equity bulls only need hold >1995... plenty of buffer zone.

3.27pm.. Thank the gods... Yellen has finally stopped.... having refused to offer her view on the Scottish vote, lol.

bullish independence?

3.34pm... minor wave lower... we look set for 1998/96 zone... early tomorrow. That would make for a fair entry....

..and I will consider picking up an index-long tomorrow.

3.37pm.. rats are selling into the close... kinda interesting...VIX might even close green, hmmm

3.48pm... sp'1999.... another 2-4pts... should

BACK at the close.  :)
*ps. hello to the person in San Diego... I see you out there Ms. C (I guess its you ;)