Thursday, 11 July 2013

3pm update - strength into the close

Mr Market is in hyper-bullish mode, no sellers, 'some' buyers, with the cheer leaders on clown finance TV...feeling like its been Christmas day for the past 13 trading days. After all, everything is fine again, now that Uncle Ben has assured the markets that he will print..until the end of time.



As expected, the small 5/15min cycles are fully reset..and hence we broke to new highs. There is little reason why the bulls can't smite the bears into the close, even into the low 1680s.

That sets up new historic highs for the Friday open..or early next week.

Those 1700s are a given...right?

I suppose the one upside of today.. Queen cheer leader Maria will not be saying 'we're off the lows'.