Thursday, 1 November 2012

Closing Brief

A victory for the bulls. After five consecutive opening gaps higher, the bulls finally managed to hold on, and closed the day with moderate gains across all indexes. The lower VIX very much confirmed the gains, and with a likely baby bull flag on the hourly charts, its not looking good in bear-land for Friday.





A clear victory for the bulls. Are we set for a multi-week post election rally, setting new index highs? The weekly and monthly charts still warn of trouble, but it won't take much to negate those minor warnings.

Under any viewpoint, bears should be really concerned with today's price action.

Big jobs data tomorrow, if Mr Market decides 'its great', then we could easily see 1440s tomorrow.

For the has to be seen as a major blow to hopes of an autumnal sell-off.

back later.