Wednesday, 17 July 2013

10am update - time for the Bernanke

The market opens moderately higher, after the Bernanke statement was released (surprisingly) at 8.30am. Hourly index charts are looking bullish, and if the market decides it likes what Bernanke says in the Q&A, a close in the 1690s is a given.

sp'60min3 - broad outlook


I suppose we could be in a sub' wave 4.....but really, it could just as easily be a sub'2 of 3.

If that's the case, we haven't even seen the strongest gains in this rally yet.


Regardless, its time for the Bernanke, which could easily drag on until around 1pm.

No point in shorting...way too risky...and going long ahead of the Bernanke...,err, no thanks. hard is it to get a $15 working mic?

Meanwhile, sp' is a mere 4/5pts from hitting all the 1687 short-stops.