Thursday, 28 January 2016

12pm update - renewed upside

Another swing from sp'1873-93, with indexes now back to broadly flat. Price action across the past five days is no doubt making most dizzy. Structure is pretty clear - a bull flag, highly suggestive of the sp'1970s by mid February. VIX remains subdued, u/c in the 23s.




Little to add.

Price structure IS a bull flag, now five days wide.

If sp'1970s within 2-3 weeks, the mainstream will be rather pleased with themselves... which is when the floor should be pulled out from them. At the very least... that will be rather pleasing to see.

VIX update from Mr T