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