Thursday 28 March 2013

2pm update - holding onto moderate gains

Just two hours remain of the week, month..and trading quarter. A close in the sp'1560s looks assured, and that sets up a further day or two higher to begin Q2. VIX is a touch lower. Oil is +0.5%. The precious metals are weak, Silver is trying to rebound..yet again.


sp'daily


Summary

Suffice to say, its going largely as expected. A POMO fuelled end to the quarter, and there is no reason to believe why we won't close around the current level.

sp'1570s look viable next Mon/Tuesday...at which we should look for a possible sharp intra-day reversal from a grand 13 year triple top.
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