Tuesday, 24 September 2013

12pm update - rallying into lunch

The main indexes are battling hard to build minor gains, with the sp +2pts at 1704. The two leaders - Trans/R2K, are both around 0.4% higher, and price formation looks like a clear bull flag. If that is the case, market should jump higher across Wednesday.


Trans, daily


So, it remains very quiet out there, and based on all previous cycles, we're more likely to trend upward..than down.

Underlying MACD cycle on the hourly index charts is offering significant upside tomorrow.

*I notice a few there are open to a hit of the 50 day MA - currently 1679, and I will admit, that is still viable.For those not already long, that would simply make for an even better entry.

VIX update from Mr T.

time for lunch