Monday 17 June 2013

1pm update - strong market

The market is holding the gains very well, and a move to the inv. H/S target of 1670/75 looks viable as early as tomorrow. Daily charts are especially bullish for Wed/Thursday, so the bears have a major problem for some considerable time to come.


sp'60min'3 - inv H/S


Summary

Certainly looks like we'll close at least in the upper 1630s, if not the mid 1640s.

Bears haven't a hope right now.
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What will be interesting to watch, is if WTIC Oil breaks $100.  Very simple upside to 110/115 within the following 3-5 weeks.
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