Monday, 16 September 2013

12pm update - pushing higher

The main indexes are holding gains of around 1%, with the sp' in the low 1700s. The VIX is back to red, after slight earlier gains. Metals and Oil remain weak, but off the lows. Despite a touch of weakness seen in the R2K, the broader market looks set to close pretty strong.



Without getting wrapped up in the minor noise..the bigger weekly chart is what matters. Near term upside looks to be in the 1715/25 zone.

Certainly, I find it near impossible to conceive of a hyper-ramp to 1740/60s this month.

Lower weekly bol' is now up to 1693, although is starting to flatten. Regardless, the notion of returning to the June low of 1560..just how is that viable any time soon?

time for lunch