Friday, 19 July 2013

1pm update - net weekly gains

The main indexes are continuing to see minor chop on what is a pretty quiet opex. Precious metals are holding moderate gains, but Oil is weak, -0.5%. VIX is -5%, and looks set to close in the 12s. Bulls remain in control...of what remains a very strong 127pt rally.



Baring some bizarre late day sell off - which seems VERY unlikely, we'll close the week with minor net gains for the sp'.

Clearly though, this is now week'4 up, and there is absolutely nothing to suggest a turn.

Best guess remains, we'll see a turn within the next few weeks.