Wednesday, 8 May 2013

11am update - mixed indexes

The headline indexes (sp, dow, nas) are all moderately higher, but the two market leaders - Trans/R2K, are still a touch lower. Primary trend remains to the upside, and with low trading levels, there is no reason to expect we close red. Oil report was slightly bullish, although Oil initially slipped.

Trans, daily

USO, 5min


A close in the sp'1630s looks very easy for the algo-bots to attain. 

*I remain very content to sit back and watch. In my view right now, the safest trade will be to short Silver, but that still looks it could battle a little higher.