Friday 5 December 2014

3pm update - a seventh week for the bulls

US equities look set for the seventh consecutive net weekly gain. with the sp'500 having climbed 259pts (14.2%) since the mid' Oct' low of 1820. Metals and oil are both set to end the week on a particularly negative note... pressured by the strong USD.


sp'60min


Summary

*hourly cycle is vulnerable to a bearish cross, but then.. thats been the case since Thursday morning.
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Regardless of the close... its been another week for the equity bulls.

The mid' Oct' low now looks a bizarrely long way down. Anyone expect sp'1700s any time before 2017/18 ?
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a long week.... I'll be back at the close.. to wrap up the week.
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3.46pm.. a touch of weakness in the closing hour...

You can tell I'm tired.. I'm losing the ability to type even semi-coherent sentences...