Friday, 19 February 2016

11am update - already floored?

The sp'500 is offering a retrace floor of 1902, which is close enough to what is a rather natural flooring zone. VIX remains subdued, and looks set to turn negative.. which would make for the fifth consecutive net daily decline. Metals remain weak, Gold -$7, with Silver -1.0%.




Current price action sure doesn't hold ANY hope for those bears who are seeking sustained price action under the sp'1900 threshold.

What should be clear... we're set for sig' net weekly gains, with next upside target of the 1950/65 zone. Any daily closes >1970... and it'll lead to the 2K threshold by mid March.

For now..the serious bears should arguably be side stepping all of this minor noise.

back at 12pm