Friday, 7 December 2012

Daily Index Cycle update

The broader equity market closed largely flat, although the big dow and SP' both managed close at the highs of the day. The VIX closed fractionally higher, and was certainly not a confirmation of any index strength, and there is still distinct weakness apparent at times.

IWM, daily




Today was painfully annoying, and at times..even somewhat boring.

I'm getting really tired of waiting for some decent dynamic trading. Yet, we are getting close to Christmas, and trading volume is likely to largely evaporate once we get past Dec'14.

Bulls regaining control ?

The underlying momentum is starting to level out on some indexes, and even tick higher on a few.

The bears..including yours truly, had better hope the market does not break >sp'1423 tomorrow, or it could signal a very strong end to the year - despite the endless problems, but hey, since when did the market care about fundamentals?

A little more later