Thursday, 22 October 2015

2pm update - sunset for the bears

US equity indexes are holding significant gains, with the sp +31pts @ 2050. VIX remains under strong downward pressure, -10% in the 15s. USD has built powerful gains of 1.3% in the DXY 96.20s. Metals and Oil are broadly flat.



Unquestionably.. it has been a rather important day for the equity bulls, with an initial break above the 200dma for the Nasdaq comp'. Regardless of whether it closes above or below... they are sig' gains.

A late VIX update from Mr T.

Here in London city...

Bullish tall towers

Next full moon... Tue' Oct 27th

As autumn proceeds, each and every day increasingly favours the bulls. We're seeing bullish MACD crosses on the weekly cycles (sp', Dow, Trans).. and with each week.. momentum swings increasing toward the bulls.

For the moment, this remains no market to short... not least with the FOMC next week. If the market interprets whatever is in the next statement as 'good for continued easy money', a monthly close above key resistance looks probable.

.. and if that is the case.. then it really will be sunset for the bears, with the next realistic opportunity not until late spring 2016.

back at 3pm