Wednesday, 21 October 2015

1pm update - underlying upward pressure

It remains the case that despite an awful lot of chop (and top calling from some traders)... US equities continue to broadly climb, as the underlying price pressure is increasing to the upside. The bigger weekly cycles offer (in theory), a clear and easy 2-3 weeks further higher.


Nasdaq comp', daily


*eyes on the tech'.. it is the first index to be brushing the 200dma. If we see the 4930s... it will bode for much higher levels into year end.

Little to add.

Three big Dow stocks I highlighted from May-August - AAPL, DIS, and INTC, which lead the broader market down.. continue to push higher. Bears... beware.

back at 2pm