Tuesday, 22 January 2013

Closing Brief

Mr Market continues to display incredible underlying strength. As has been the case since mid December, this is especially seen in the Transports and the Rus'2000, both of which made further historic highs. There is absolutely no sign of this trend ending.





It has become a laughable relentless algo-bot melt higher.

The Dec'31st low of 1398 is now a very long way down...and the June low of sp'1266 now looks impossible to reach..perhaps for some years (it has to be considered)

There is obviously no sign of the current trend ending any time soon, with easy upside to sp'1510/20 within the near term - as supported by the weekly/monthly charts.

More later..on the VIX.