Friday, 15 June 2012

2pm update - did they vote yet?

The market seems stuck at sp'1336. All things considered, bears have to concede this week was one for the bulls. We had clear bull flags on the indexes..and we're now above them. All that's missing now is the first snap up move - which could easily come on Monday. That will get us straight into the 1350s..and then its a case of waiting for the Bernanke on Wednesday.



Not much to add...all the various little things are moving as expected, except for Oil which is a touch lower. The first 3 or 4 days of next week should get Oil into the high 80s...where it can then fail..and begin its descent to $60..along with the rest of the market. Too bold a call? back to the France/Ukraine match...