Friday, 9 October 2015

1pm update - sunset for the bears?

The ultimate question remains... will the market be able to re-take old broken supports - the 200dma and 10mma. If the market can see sustained action >2050/60, it will have been a cruel sunset to summer 2015 for the equity bears. Without question.. the Yellen and all at PRINT HQ are to blame.




*an outright bullish green candle on the weekly 'rainbow' chart... next week will almost certainly see higher levels... the 2030/40s look rather easy

The next few weeks will be semi-critical, although the bulls don't even have to break 2050/60 this month... a Nov' close of 2050 would be equally definitive.

Clearly, there will be no rate hike at the next FOMC in 8 trading days time... but how will the market react to that?

meanwhile...  not a bad autumnal evening in London city

58f... about as good as could be expected for an October's evening.

back at 2pm