Thursday, 28 January 2016

1pm update - dizzy yet?

US equities are making a play to break the early high of sp'1902. A daily close in the 1900s will keep the door open for a weekly close in the 1920s (despite a looming lousy GDP data print), and that should solidify the outlook for another few weeks.



Little to add.

The intraday swings are getting pretty tiresome.. almost as much as hearing those who are touting the imminent collapse of the USD or financial system.

In any case... market wants to push upward.

Despite the market rebound, QCOM is still struggling.

Sustained action >$50 looks out of range until Q4. First soft downside target is $40... most bearish outlook is the 32/30 zone (assuming sp'1600s).