Tuesday, 9 July 2013

10am update - just another day higher

The US markets are once again on the rise, with the sp' making a play for the 1650s. Even worse for the bears, there is significant QE of around $3bn, and those 'benny bux' will be looking for a place to go this morning.


sp'60min


Summary

Bears remain entirely powerless. No downside of significance likely any time soon.

Anyone have any doubts of sp'1700s by early August now?
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10.08...back to sp'1645..hmm...and thats why I won't chase the higher open.

Hourly index charts are just too high, not that shorting this would either be a good idea.