Wednesday 22 October 2014

12pm update - 157pts down, 129pts up

Since the failed break of Mon' Oct'6 - sp'1977, the sp' fell 157pts across 8 days, and has rebounded 129pts across 6 days. There is again increasing chatter of November 'problems' from people of quite different perspectives.


sp'daily5


sp'weekly7


Summary

*for those who like their analogies, it should be remembered that we saw a powerful green candle in late June 2011, before the market got stuck again.. putting in a critical lower high. Right now, I really want to see no higher than 1970.
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Today is day'5 UP, on any basis, I'm looking for 9 days, perhaps 14. Certainly, though, regardless of any minor weakness in the remainder of this week, there looks to be HIGH probability of sp'1960s.

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Next Wednesday's FOMC will surely announce the conclusion of QE3, which (surprisingly) didn't turn out to be so infinite after all.
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VIX update from Mr T.

*reposted.. as whoever is running their youtube channel.. finally gets it right


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time for tea