Thursday 8 January 2015

10am update - bullish follow through

The turn from sp'1992 appears fully confirmed, with a decisive re-take of the 50dma on most indexes. The weekly cycles are already close to turning net positive on the week. Commodities are mixed, Gold -$1.. whilst Oil is a touch higher, +0.2%.


sp'daily5


sp'weekly7


Summary

*weekly 'rainbow' candle flips from red.... to blue.
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If market likes the jobs data tomorrow, we now look set for a net weekly gain, which is frankly... incredible... but then.. the rallies (at least recently) have been more powerful.. and faster than the down cycles.
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back in an hour... probably.

....

11.21am.... I return to.... sp'2060... pretty nuts.. way beyond what I was looking for.

... back at 12pm