Thursday 23 October 2014

2pm update - baby bull flag

US equities are holding very significant gains of around 1.5-2.0% for most indexes. Price structure is a baby bull flag on the smaller 60/15 min cycles, and it bodes for 1960s.. whether late today.. or early tomorrow.


sp'60min


Summary

*metals remain mixed, Gold -$12, whilst silver is flat.   Miners are naturally weak, GDX -1%.
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Suffice to say.. this is no market for the bears... at least until next Wednesday afternoon.

Price structure is certainly offering the low 1960s by the close of today... a mere 0.5% from the 'last line'.
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Notable gains, airlines, DAL +3.2%, UAL +2.4%
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2.24pm... Trans +2.8%... if a new high.. it really does serious damage to hopes of a bigger wave lower in November.